Huawei’s Revenue Increased By 23.2 Percent Despite US Ban: Reports

Chinese smartphone giant Huawei’s income for H1 2019 rose 23.2 percent to 401.3 billion yuan (around $58.3 billion) despite the trade war between the US and China, the firm announced on Tuesday. The net profit margin of the company for H1 2019 was 8.7%. Operations are smooth and the organization is as sound as ever, according to Huawei’s Chairman Liang Hua. Huawei’s company stayed robust with efficient leadership and outstanding results across all economic indices.

Company chairman Liang Hua recognized that U.S. prohibition could have an effect on its short-term development but stated that “income grew rapidly through May” due to the momentum it attained up to that stage, the reports said.

In May, the US blacklisted Huawei by adding it to the “entity list” of organizations considered to be acting against the interests of national security. It came after the executive order of President Donald Trump fundamentally prohibited the business from maintaining close connections with the Chinese government— which the firm has continuously refused.

Huawei also claimed its dominance over its indigenous market, in the second quarter shipping 37.3 million smartphones to China. That’s a 31 percent year-over-year jump, reported market study company Canalys.

Liang observed that the operating system of Huawei is still undergrowth, it has been reported, but he reiterated the point that the firm wants to continue using Android from Google.

H1 sales income reached 220.8 billion yuan (around $32.08 billion) in Huawei’s consumer company. “Huawei is starting to scale its device ecosystem to achieve a more seamless smart experience across all main user scenarios. To date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers and 500 million customers around the world,” the firm said. Smartphone shipments from Huawei, including HONOR phones, reached 118 million units, up 24% a year.

“Revenue grew rapidly through May. Given the foundations we laid in the first half of the year, we’re still seeing development even after we’ve been added to the list of entities. That’s not to say we don’t have any problems ahead of us. We’re doing so, and they can influence the pace of our growth in the brief term,” Liang said. “We’re going to remain the course. We’re fully aware of what the future holds, and we’re going to continue investing as scheduled, including a total of CNY120 billion in this year’s R&D. We’re going to meet these difficulties, and we’re confident that Huawei will enter a fresh phase of development after the worst is behind us,” he added.