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Author Topic: Huawei's current chairman sees lower growth for the company in 2020  (Read 7667 times)

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techy

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According to Bloomberg, a memo written to Huawei's 190,000 employees by the company's rotating chairman Eric Xu said that Huawei's growth slowed in the second half of this year. For 2019, the company grossed $120 billion, an 18% gain from 2018's top-line number. But revenue growth in the first half of this year was 23% indicating that the U.S. supply chain ban that was instituted in May is having a negative effect.

Because of the ban, Huawei cannot license the Google Play services version of Android which means that recent models like the Mate 30 series and the foldable Mate X cannot use Google apps like Gmail, Search, the Play Store, Maps, Messages and more. That doesn't matter in China where many Google apps are banned anyway. But it does matter outside of China where phone buyers want to be able to use Google's apps and the licensed version of Android.
Huawei's current chairman sees lower growth next year

Thanks to a wave of patriotism exhibited by consumers in China, Huawei was able to ship 240 million handsets globally in 2019 for a 16.5% year-over-year gain. That figure was good enough for Huawei to take second place behind Samsung and ahead of Apple. Chinese consumers supported the company which they see as a victim of U.S. bullying tactics. Huawei certainly made the best out of what could have been a terrible situation. Still, Xu's memo pointed out that 10% of the company's worse performing managers will be on the block in 2020. Business units could end up combined with other segments while others might end up reduced in size. Some employees might end up moving from one business unit to another. As the executive points out, "Survival will be our first priority. We wonít grow as rapidly as we did in the first half of 2019, growth that continued throughout the year owing to sheer momentum in the market."



 

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