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US Trade Restrictions Unable to Slow Huawei’s Growth in 1H20
July 19, 2020
Huawei reported a 13.1% year-over-year revenue growth in the first half of 2020 and net profit margin of 9.2%, a slight increase from 8.7% last year, even as countries around the world continued to weigh up bans on its equipment and smartphone sales shrink amid the pandemic, the telecom giant said in a brief on Monday. Revenue was 454 billion yuan ($64.88 billion) with its carrier, enterprise, and consumer businesses accounting for 35%, 8% and 56% of total revenue, respectively.
The growth came amid the U.S.’s ongoing campaign urging allies to remove Huawei from their network infrastructure and U.K. scheduled phase out of Huawei gear in its 5G network. The company and its local competitor ZTE — which is also on the U.S. trade blacklist— divide up the bulk of 5G base station contracts from China’s main carriers. The network operators have also agreed to procure 5G phones from Huawei, which would naturally give the company a boost in sales.
July 19, 2020
Huawei reported a 13.1% year-over-year revenue growth in the first half of 2020 and net profit margin of 9.2%, a slight increase from 8.7% last year, even as countries around the world continued to weigh up bans on its equipment and smartphone sales shrink amid the pandemic, the telecom giant said in a brief on Monday. Revenue was 454 billion yuan ($64.88 billion) with its carrier, enterprise, and consumer businesses accounting for 35%, 8% and 56% of total revenue, respectively.
The growth came amid the U.S.’s ongoing campaign urging allies to remove Huawei from their network infrastructure and U.K. scheduled phase out of Huawei gear in its 5G network. The company and its local competitor ZTE — which is also on the U.S. trade blacklist— divide up the bulk of 5G base station contracts from China’s main carriers. The network operators have also agreed to procure 5G phones from Huawei, which would naturally give the company a boost in sales.
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