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QINGDAO TODAY
在线翻译:
szdaily -> Business/Markets -> 
Huawei sales rebound despite restrictions
    2020-07-15  08:53    Shenzhen Daily

HUAWEI Technologies Co. said sales grew even as the company faces restrictions from a number of countries on the use of its telecom equipment.

Revenue increased 13.1 percent to 454 billion yuan (US$65 billion) in the first six months of 2020 after barely growing in the first quarter, the Shenzhen-based company said in a statement Monday. The growth rate was down from 23.2 percent in the first half 2019.

Huawei’s growth had evaporated in the first three months of the year amid a relentless U.S. campaign against the maker of networking equipment and as the COVID-19 pandemic decimated smartphone sales.

The White House has spearheaded a global campaign against privately held Huawei, warning allies not to use its equipment in their next generation 5G wireless networks. U.S. officials in May announced new rules aimed at constricting Huawei’s ability to procure crucial chips that it designs for 5G networking gear and smartphones.

Stringent U.S. sanctions have jeopardized Huawei’s supply chain, and some lawmakers in the United States and U.K. are calling for a full ban of the company’s equipment in national networks.

“The complex external environment makes open collaboration and trust in global value chains more important than ever,” Huawei said in a statement.

“Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces.”

Huawei reported a net profit margin of 9.2 percent in the first half of the year, compared with 7.3 percent in the first quarter of the year and 8.7 percent in the first half 2019.

Monday’s sales report showed the company’s consumer business continued to dominate, with 256 billion yuan in sales, followed by 160 billion yuan at its carriers division. Its enterprise unit accounted for the remainder of revenues.

(SD-Agencies)

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