Predicting a decrease of about 32 percent in its annual revenue for 2016, Huawei has announced that it feels that 2017 will be a very unpredictable with many uncertainties.

Huawei said that its revenue for 2016 was considerably lesser than in 2015. The Chinese company further elaborated that the statistics show that it will continue experiencing more losses in 2017 as well.

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According to Reuters, the rotating CEO of the company, Eric Xu, noted that the global economic condition suffered a setback in 2016 and it was a difficult year for Huawei.

The company does not know if this decline will continue in the coming years. Huawei stated that this year would bring about many global uncertainties, both political and economic and so there is ambiguity in planning out what the company has to do. There is also a considerable chance that Huawei's sales and income would be adversely affected.

Currently, Huawei is competing to be the foremost telecommunications equipment manufacturer worldwide with Ericsson. According to Custom Today, the company's net worth increased in 2015 due to an increase in its shipments but 2016 did not see any favorable results.

By the beginning of 2014, Huawei communicated the objectives it had for the following years. By 2018, it aims to bring in a total of $70 billion.