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Huawei revenue in first-half 30% up despite US ban

Huawei Technologies Co Ltd’s income rose about 30 per cent in the first half after selected managers guaranteed critical materials to maintain manufacturing running amid constraints on U.S. technology exports, Bloomberg published on Tuesday, quoting individuals acquainted with the issue.

Huawei Technologies Co Ltd’s income rose by about 30% in the first quarter after select managers guaranteed critical deliveries to maintain manufacturing running amid constraints on U.S. software exports, Bloomberg published on Tuesday, quoting individuals acquainted with the issue.

The U.S. has placed Huawei on an export blacklist quoting national security problems, preventing U.S. vendors from lending to the world’s biggest manufacturer of telecommunications machinery and No two smartphone manufacturer without unique permission.

READ: Major US job cuts at Huawei planned

In the first quarter, Huawei’s income development of 30% is a slowdown from 39% in the first three months of 2019, but a sharp increase from 2018, Bloomberg said.

Huawei has so far succeeded in boosting income by vigorously obtaining agreements for networking equipment of the fifth generation, Bloomberg said.

Despite US prohibition, Bloomberg added, the firm is said to have honoured an amount of staff for assisting to boost income.

Huawei refused to comment on the study from Bloomberg.

Huawei cut revenue expectations for the year last month, with its founder and CEO Ren Zhengfei saying the company had taken a hit from the US ban that was harder than expected.

The company refused that its products present a danger to safety.

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