Huawei counts cost of Western bans as UK business withers

Huawei’s UK revenue fell to £188.2m in 2024 (down 18% YoY and far below 2019’s £1.26bn) as ongoing US/UK restrictions and the UK Telecommunications (Security) Act forced the company to wind down enterprise operations, limit sales to servicing existing network gear and consumer devices, and reduce headcount from 885 in 2019 to 176 in 2024; gross profit declined 21.4% to £24.2m and profit after tax dropped over 26% to £6.2m, while globally Huawei grew 22% by focusing on markets outside the West.