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George Ma
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Finance
April 3 15:00

Huawei lost billions of dollars in 2019 due to US sanctions

They couldn't help but affect the company's business.
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Huawei lost billions of dollars in 2019 due to US sanctions. A representative of the company, Eric Xu, told about it.
According to him, the company lost almost US$12 billion last year. This is how much Huawei missed compared to early projections. The reasons for this were the U.S. sanctions, measures that the country's Department of Commerce imposed against the company in May 2019. Because of this, Huawei was unable to install Google services on new smartphones.
Most of the problems were observed in the consumer division of the company, which accounted for more than 54% of total sales last year. In other words, Huawei's smartphone, tablet and laptop business suffered the most.