Huawei’s 2019 Revenue to Jump 18%, Forecasts ‘Difficult’ 2020

Huawei’s 2019 Revenue to Jump 18%, Forecasts ‘Difficult’ 2020
The Huawei logo is pictured at the IFA consumer tech fair in Berlin, Germany on Sept. 5, 2019. Hannibal Hanschke/Reuters
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SHANGHAI—Huawei Technologies on Dec. 31 said its full-year revenue would likely jump 18 percent in 2019 to 850 billion yuan ($121.72 billion), lower than its earlier projections, as a U.S. trade blacklisting curbed growth and disrupted its ability to source key parts.

The world’s biggest maker of telecom network equipment and the No. 2 manufacturer of smartphones, was all but banned by the United States in May from doing business with U.S. companies, preventing its access to technology like Google’s Android operating system.