China's Huawei says 'survival is top priority' as US sanctions bite

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

The global leader in telecom networking equipment has been effectively banned by the United States from working with American firms on the grounds that it poses a national security threat -– an accusation the Chinese company has consistently denied.

Chairman Eric Xu said Huawei's sales revenue for 2019 was likely to reach 850 billion yuan (US$121 billion) – up roughly 18 percent from the previous year.

Though he said "business remains solid", the figure was lower than a previous forecast of US$125 billion.

In a New Year's message 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".

https://www.france24.com/en/20191231-china-s-huawei-says-survival-is-top-priority-as-us-sanctions-bite