Huawei revenue up despite blacklisting by US government
July 30 2019 07:16 PM
Huawei Technologies Co Ltd Chairman Liang Hua speaks at a news conference on company's first-half fi
Huawei Technologies Co Ltd Chairman Liang Hua speaks at a news conference on company's first-half financial result at Huawei's headquarters in Shenzhen, Guangdong province, China . Reuters

dpa/Beijing

Chinese telecom giant Huawei said Tuesday that its revenue grew 23.2 per cent in the first half of 2019 despite its blacklisting by the US government.
 The company posted revenues of just over 401 billion RMB (58.3 billion dollars) in the first six months of the year. It posted a net margin of 8.7 per cent in comparison to the same period in 2018.
 Huawei Chairman Liang Hua said in a statement that business was as "robust as ever," with smartphone shipments up 24 per cent.
 The news comes as top US and Chinese trade officials meet in Shanghai on Tuesday and Wednesday, where they hope to resolve the year-long trade war.
 Huawei has been a major casualty of the trade war and was blacklisted in May from working with US companies due to national security concerns.
 The US accuses Huawei of facilitating Chinese government spying and has put pressure on Western allies to not use the company's technology. US President Donald Trump, however, has back-pedalled since then and said some US companies may collaborate with Huawei.



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