Huawei quarterly revenue slumps for first time

[Chris]

Huawei quarterly revenue slumps for first time

Huawei Technologies Co.’s quarterly revenue shrank for the first time on record, reflecting the devastating impact of U.S. sanctions that forced China’s largest technology company out of smartphones and into other technology arenas.

The disappointing results underscore the depth of the damage Washington has wrought on a company that once vied with Apple Inc. and Samsung Electronics Co. to lead the global smartphone market.

It reported revenue fell 11% to 220.1 billion yuan ($33.5 billion) in 2020’s final quarter.

[Bloomberg]

 

[Gudnews]

How about taking this baby public.

 

[system32]

How about taking this baby public.

According to Huawei web site:

Huawei is an independent, privately-held company.
Huawei is owned by our employees through an Employee Stock Ownership Program.
As of 2018 there were 96,768 shareholding employees.
Employee-ownership is instrumental to our rapid growth.
Over the years, it has offered an incentive to our loyal employees and helped us attract talented people.
Unlike many publicly-owned companies, Huawei’s decisions are not based on the need for quarterly returns and annual dividends.

This is similar to SpaceX and many pre-IPO companies.
Not being publicly listed has many benefits in terms of agility.

Not sure the existing shareholders would vote to list the shares on a public exchange.