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Huawei revenue increases 30% despite U.S. ban

By Anton D. Nagy July 24, 2019, 10:00 am

Huawei continues to grow. At the end of last year, when only 5G was its sole roadblock, the company’s revenue was expected to grow 21 percent. Then in April the Chinese tech giant recorded a 39 percent revenue increase for the first quarter of the year, but then, due to the U.S. ban imposed upon the company, the outlook wasn’t optimistic.

Still, despite 5G roadblocks and U.S. restrictions, Huawei managed to record a 30 percent increase in revenue for the first half of the year, months January through June. The U.S. is still considering restrictions and granting licenses on certain products and services which don’t jeopardize national security, which not only affects Huawei’s supply chain, but also the sales of its current product portfolio.

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The outlook isn’t certain for the immediate future, but Huawei is doing a good job steering the ship in troubled waters, at least according to its financial numbers. Rotating chairman Ken Hu anticipated, back in April, that the faster-than-expected rollout of 5G networks would result in double-digit growth for Huawei’s carrier division this year. So far the company seems well on track. Smartphone sales are also increasing compared to last year, with Huawei selling more than 100 million smartphones in the first five months of the year.

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