Huawei stagnated in Europe, boomed in China in 2019

Technology giant Huaweis revenue rose 36.2 percent year-on-year in 2019 in its domestic market, China, while stagnating in Europe.

Huawei Tuesday presented its 2019 annual report, giving a glimpse of how the Chinese telecom equipment maker is handling a global political storm over the security of its equipment.

Eric Xu, rotating chairman, said 2019 had been a “challenging time” for the company. He added that “2020 is going to be the most difficult year.”

Figures for 2019 showed the company has fared well in China but sales revenue only grew 0.7 percent year-on-year in Europe. The two markets are key for Huawei: China accounts for 59 percent of its overall revenue, while Europe accounts for 24 percent.

Smaller markets Asia Pacific and the Americas showed mixed results. The companys revenue dropped 13.9 percent in the Asia Pacific region, as it faced political pushback in Australia, Japan and elsewhere. Revenue grew 9.6 percent in theRead More – Source