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Telecoms giant Huawei takes centre stage at MWC Shanghai, reveals ‘slight’ growth in 2020

  • Huawei, the world’s largest telecoms gear maker and China’s biggest smartphone vendor, achieved growth in 2020 amid US trade restrictions and the pandemic
  • The Shenzhen-based company introduced its new Mate X2 foldable 5G smartphone at MWC Shanghai

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An employee of Huawei Technologies Co shows the company’s new 5G Mate X2 foldable smartphone to visitors at telecommunications industry trade show MWC Shanghai on February 23, 2021. Photo: Reuters
Huawei Technologies Co, which has struggled amid the US-China tech war, took the spotlight on Tuesday at the opening of telecommunications industry trade show MWC Shanghai, where it revealed an uptick in its business and presented a new folding smartphone for the domestic market.
Ken Hu Houkun, privately held Huawei’s rotating chairman, said in his keynote speech at the event that the company – the world’s largest telecommunications equipment maker and China’s biggest smartphone vendor – recorded “slight” growth on the back of continuous support from business partners, despite being on the US trade blacklist.

“The past year was, indeed, very difficult [for Huawei], [but] I think it is the same for everyone. Huawei is no exception,” said Hu, without elaborating on the company’s financial performance last year. He indicated that operations last year were “stable” and met the company’s expectations.

“Innovation isn’t just about solving the challenges we face today,” Hu said. “It’s about lighting up tomorrow. Once we get the pandemic under control, we need to think hard about how we can innovate to improve quality of life, make businesses smarter and create a more inclusive world.”

The Shenzhen-based company’s revenue reached US$136.7 billion last year, up 11.2 per cent from 2019, while profits grew 10.4 per cent to US$9.9 billion, according to an earlier report by Shanghai-based publication China Business News.

People visit the exhibition booth of telecommunications equipment maker Huawei Technologies Co at industry trade show MWC Shanghai on February 23, 2021. Photo: Reuters
People visit the exhibition booth of telecommunications equipment maker Huawei Technologies Co at industry trade show MWC Shanghai on February 23, 2021. Photo: Reuters
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