SHENZHEN, China: Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States.
The United States alleges the Chinese government could use Huawei's equipment to spy, an accusation rejected by the company. Xu, however, predicted 2020 would be the most difficult year yet for the company because of the U.S. measures and warned that further export restrictions could destroy global tech supply chains.Huawei Technologies said net profit for 2019 came in at 62.7 billion yuan , up 5.6per cent - its weakest growth in three years, and down from 25per cent jump a year earlier.Liang Hua, chairman of the board, said the company would have to adapt to the U.S. restrictions as well as the coronavirus pandemic.
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