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Wednesday, August 4, 2021

That’s gonna be a tussle: Boom Bust explores how Huawei will fight for its share of global 5G market

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That’s gonna be a tussle: Boom Bust explores how Huawei will fight for its share of global 5G market

Chinese tech giant Huawei, which has been central to the tech battle between the world’s two biggest economies, managed to post a record profit in 2020, despite being on the US’ export blacklist and facing the Covid-19 pandemic.

Huawei’s net profit rose 3.2% to $ 9.9 billion, while its revenue grew 3.8% year-on-year to $ 136.7 billion. Sales in China jumped over 15% to total $ 89.7 billion, accounting for over 65% of total revenue. The company’s carrier business, including 5G network equipment which has been at the center of controversy, grew by just 0.2%.

READ MORE: Huawei posts record profit in 2020 despite mounting US pressure

RT’s Boom Bust is joined by Miami Herbert Business School Dean John Quelch to discuss the matter.

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“Huawei is a very, very strong company. It’s a very versatile company, it’s a very important national flag-carrier company for China, and there’s a tremendous amount of recourse that’s going to be put into ensuring that Huawei continues to succeed,” Dean Quelch said.

For more stories on economy & finance visit RT’s business section

RT

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That’s gonna be a tussle: Boom Bust explores how Huawei will fight for its share of global 5G market
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