Huawei Technologies rotating Chairman Eric Xu said that 2020 will be the most difficult and challenging year for the company despite reporting a 19.1% increase in revenues and a 5.6% in net profit in 2019.
In a virtual press conference held in Shenzhen, he said that 2019 was a challenger year due to political headwinds.
“As we are a subject to US Entity List throughout this year, our supply inventory is running out and can it work in an effective way this year. On top of that, the outbreak of coronavirus is something unexpected and we don’t know how the demand is going to be due to economic downturn,” he said.
