Huawei presented its annual results, the Chinese group shows a small overall growth with a higher profit than a year ago. Nonetheless, incomes are collapsing in America and Europe.
Huawei made a presentation of its financial information for the year 2020. This presentation was expected after a full year with the effect of US sanctions. Huawei’s revenue was 891.4 billion yuan (about 115 billion euros) in 2020, an increase of 3.8% from 2019.
All regions of the world are down except China
In China all is well, Huawei recorded a revenue increase of 15.4%. It is the only region in the world that is growing with nearly $ 77 billion in revenue. In all other regions of the world, revenue is down – especially in America, where Huawei is seeing its revenue drop by 24.5%. In Europe (EMEA), revenues fell 12.2%.
We expected such declines because all market studies showed a decline in market share of the Chinese group all over the world.
According to IDC figures, Huawei has been overtaken by Xiaomi and Oppo. On the side of the Canalys cabinet, we present figures of the same ilk. In the last quarter, Apple would be in the lead with 23% market share, against 17% for Samsung, 12% for Xiaomi and 10% for Vivo. Huawei would not have even sold enough smartphones to reach the top 5 of the main manufacturers.
Despite the change of president in the US, Huawei has yet to see any sign from the Biden administration to ease restrictions put in place by former President Trump.