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KEY STAT | Huawei keeps growing its 5G business in spite of sanctions

Written by Julianna Wu Published on     1 min read

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The 5G business offsets a loss in the smartphone division.

Despite a ban from 5G projects in the US and increased pressure in Europe, Chinese telco giant Huawei managed to clinch over 1,000 contracts across more than 20 industries in the past year, said deputy chairman Ken Hu on Tuesday.

Thanks to a booming 5G business, which was offsetting a decline in smartphone sales, Huawei saw its revenue and earnings grow slightly, according to Hu, who spoke at the opening ceremony of MWC Shanghai 2021. In China alone, more than 5,000 commercial innovation projects have been implemented in various industries, he added.

Huawei has a roughly 30% price advantage over other major international 5G infrastructure suppliers like Ericsson and Nokia.

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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