News People Need

In the recent update on the technology market, we see the company Huawei seen with the reduced amount of growth in the year 2019 in terms of revenue in the US market. This therefore seems blacklisted the Chinese technology giant in terms of business in the US market. In the meantime, the top executive of the same company was seen talking to the media, who claimed that the downfall is basically the impact from the COVID 19 on the business is still to be clarified. As far as the revenue generation for the last year is concerned, it goes total to 858.8 billion yuan, which is around $123 billion while the same goes to around  19.1% year-on-year rise in terms of yuan terms. 

The Net profit gain that has come is seen with the 62.7 billion yuan ($9 billion), thus marking it to be a  lift up to 5.65 percent of rise since the last year. That seems to have gone slower than the revenue generation of 25 percent as and when reported in 2018 and 28 percent in 2017. The rotating Chairperson Mr. Eric Xu at Huawei was seen talking to the media where he stated that the company had missed its own targets in a big way. While at the beginning of the 2019, Huawei seemed to come along with the projected revenue that came around  858.8 billion yuan or $123 billion with which the year seemed to have ended. 

But in the month of April of 2019 they seemed preparing to revise that target that has gone up to $135 billion. In the month of May, however, the Chinese tech giant was seen coming along in the US Entity List that seemed to have added in the blacklist, which seemed restricting over the American companies carrying out the business with it. This certainly includes companies like Google that went on with no longer getting the license to the Android mobile ops system to the Chines company. On the otherwise, it was seen that Xu seemed to have blamed the blacklisting for around $12 billion shortfalls. He went on to say that the company did not meet the revised targets that were seen going $135 billion marks. He added that the company was seen short by $12 billion. 

This seemed to have resulted with the US sanctions with Xu claiming as checked over the media group. He further said that the company has been dealing with several challenges around when it comes to the supply of continuity and he had to address the challenges seen in the supply for the short term to assure that certain products of the customers are seen in the market. He also added saying that the boost up in the investment in the areas like R&D (research and development) the net profit growth seemed to have gone down. This goes smooth with the translation provided by Huawei.