Huawei’s business has surprisingly continued to soar despite the Washington ban. The company recorded a 23.2% year-over-year profit in the first half of 2019 in comparison to a similar period last year. Huawei made a total revenue of USD $58.34 billion in H1 2019 with an 8.7% net profit margin.
Despite Trump’s ban, Huawei’s Chairman, Liang Hua, states business is running smoothly as usual, and Huawei as an “organization is sound as ever.”
Although Liang still acknowledges that the future is still unwelcoming.
“Revenue grew fast up through May,” said Liang. “Given the foundation we laid in the first half of the year, we continue to see growth even after we were added to the entity list. That’s not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term.” He added.
Huawei’s diversified portfolio in consumer business raked in USD $32.1 billion with the company together with its sub-brand Honor shipping a total of 118 million smartphone units in H1 –up 24% year-over-year. Significant growth recorded by the company, however, was in its tablets, PCs, and wearables.
Now the company boasts a 500million user fan base worldwide and has more than 800,000 registered developers.
Other sectors of Huawei’s business like Huawei Enterprise recorded USD $4.59 billion in sales revenue while its carrier business raked in USD $21.29 billion.
Huawei’s carrier business is part of its most abundant revenue streams with the company now stating that they have acquired 50 commercial 5G contracts. Still, on matters 5G, the company has already shipped over 150,000 base stations to build 5G in different markets around the world.
Huawei’s Chairman states the company will go ahead with their initial plans –including a total investment of USD $17.44 billion in R&D this year. The Chairman hopes the company will stay strong and get back on track when all the on-going US sanctions are solved.
“We’ll get through these challenges, and we’re confident that Huawei will enter a new stage of growth after the worst of this is behind us.” He stated.