Huawei first-half revenue up about 30% despite U.S. ban - Bloomberg

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Published on July 23, 2019 - Duration: 01:23s

Huawei first-half revenue up about 30% despite U.S. ban - Bloomberg

Huawei's revenue grew roughly 30% in the first half despite U.S. technology export restrictions, according to Bloomberg on Tuesday.

David Pollard reports.


Huawei first-half revenue up about 30% despite U.S. ban - Bloomberg

Rewind one month, and Huawei's founder was warning of a massive hit to revenues from being put on a U.S. blacklist.

"We didn't expect it to be this serious," he said.

One month on, and the outlook appears not so dark after all.

Reports from Bloomberg on Tuesday suggest Huawei revenues grew around 30% in the first half.

The Chinese telco didn't comment - but the reports say it has managed to aggressively secure 5G contracts despite U.S. restrictions.

Other reports say a renewed focus on its home market has given it a 46% share of the mobile handset market there.

And that sales in Europe grew in the last quarter.

In June, Ren Zhengfei said revenues could slide to around 100 billion dollars this year and next - a drop of 25 to 30 billion dollars.

And on Tuesday, Huawei confirmed it was laying off more than 600 of 850 jobs at its U.S. research arm in California.

But elsewhere, the Huawei is now also quoted as saying Huawei will ship 270 million handsets globally this year - up from an estimated 206 million, last.

The company has repeatedly denied U.S. allegations its 5G equipment poses security risks.

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