Ken Hu, Huawei Chairman, Says "US Sanctions Include Quite Unfair Demands"

Huawei to Hold Global Online Media Briefing on the 31st

Ken Hu, Rotating Chairman of Huawei, is seen holding a global media briefing at the 'Huawei 2020 Annual Report' presentation event on the 31st (Korean time). Photo by Huawei YouTube screen capture

[Asia Economy Reporter Cha Min-young] "The U.S. sanctions include quite unfair demands."

Ken Hu, Huawei's rotating chairman, stated this on the afternoon of the 31st (Korean time) at the 'Huawei 2020 Annual Report' presentation event, saying, "Huawei's global supply chain as a multinational company has been disrupted over the past two years."

Ken Hu also pointed out, "The supply chain includes upstream vendors and all companies involved, as well as downstream consumers, all of whom are victims," adding, "Every year, U.S. companies purchased products worth 10 to 20 billion dollars, and these suppliers are also victims."

He strongly criticized, saying, "It should be possible to find other vendors and suppliers from countries other than the U.S.," and "If political stances harm everyone in the value chain, it is a matter that should be corrected."

According to market research firms, Huawei is estimated to be the world's third-largest smartphone seller by sales volume in 2020. The U.S. blacklisting of Huawei and other Chinese companies dealt a direct blow to Huawei's consumer business sector, including smartphones.

On this day, Huawei also released its 2020 annual report. Despite U.S. sanctions in 2020, Huawei reported revenue of 891.4 billion yuan, a 3.8% increase compared to the previous year. Net profit for the same period rose 3.2% to 64.6 billion yuan. Operating profit margin declined for two consecutive years, from 10.2% in 2018 to 9.1% in 2019, and 8.1% in 2020.

This content was produced with the assistance of AI translation services.