Huawei counts cost of Western bans as UK business withers

Huawei's business in Britain has dwindled in the half-decade since the UK acquiesced to demands from the US to ban the Chinese networking giant from local telco networks.

In its latest profit and loss accounts for the year ended December 31, 2024, Huawei Technologies UK generated just £188.2 million ($159.6 million) in revenues versus £1.26 billion ($1.7 billion) in 2019. Sales peaked in the prior year at £1.28 billion.

"Revenue in 2024 decreased by 18 percent, primarily due to planned downsizing of the business following UK and US restrictions," Huawei said in the report filed at Companies House last month.

Anti-Huawei sentiment began in earnest stateside in 2019 when President Donald Trump declared a national emergency by signing an executive order that effectively prohibited the use of Chinese telecom gear by US corporations. Pressure was then placed on allies to follow suit. President Biden ...