Huawei Technologies Co. Ltd. sees bright prospects for its business this year after reporting an increase in income last year despite the coronavirus pandemic, which dampened sentiment.
Huawei founder and Chief Executive Officer Ren Zhengfei said recently that the China-based technology company saw its earnings grow in 2020, as well as significant customer confidence levels, without specifying figures.
This, he added, encouraged his firm to produce more products under the Huawei brand and continue to rely on globalization to resolve its current challenges.
“I am even more confident about Huawei’s survival than I was, because we have more ways to overcome those challenges. Our sales revenue and profits in 2020 were higher than last year,” he was quoted as saying through an interpreter in an interview with reporters.
Globally, Ren said Huawei was looking to seize trade opportunities in the United States, especially now that Joe Biden is its president.
During the administration of Biden’s predecessor, Donald Trump, Washington was lukewarm toward Huawei, alleging that its products could be used to spy on Americans — a claim the firm denies.
Ren said he was open to talking with Biden on joint development and shared success.
“The US wants to have economic growth, and China wants to have economic growth, as well,” he added.
“Trade benefits both sides. Allowing US companies to supply goods to Chinese customers is conducive to their own financial performance. If Huawei’s production capacity expands, that would mean US companies could sell more. It’s a win-win situation,” Ren said.
“I believe the new administration will weigh and balance these interests as they consider their policies,” he added.
“We still hope to be able to buy a lot of US components, parts and machinery, so that US companies can also develop with the Chinese economy.”
Despite this, Huawei was not looking to diversify into other businesses, with Ren saying it would only continue to offer a platform and provide “a soil where all kinds of crops can grow.”
Huawei saw its chip-shipment business decline last year amid the lack of supply of raw materials, but it hopes to recover this year, especially that the US government considered chips an important accessory in the technology industry.
Source: ManilaTimes
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