China’s Huawei says ‘survival first priority’ after 2019 sales fall short

Beijing: Chinese telecommunications giant Huawei said Tuesday that “survival” was its first priority after announcing 2019 sales were expected to fall short of projections as a result of US sanctions.

Chairman Eric Xu said Huawei — banned from working with American firms over national security fears — estimates sales revenue will reach 850 billion yuan for 2019 (US$121 billion) — up roughly 18 percent from the previous year, but much lower than initially expected.

In January this year, the company forecast sales revenue of US$125 billion.

In a New Year’s message addressed to employees, Xu said the US government was in the midst of a “strategic and long-term” campaign against the company that would create a “challenging environment for Huawei to survive and thrive”.