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The Huawei and US drama continues, but it seems the Chinese tech company is still making ends meet. In its first half of the year, Huawei recorded a 13% increase in revenue to 454 billion yuan ($65 billion). But compared to the first half of 2019, the companyās growth rate was down from 23.2%.
Huawei reported a net profit margin of 9.2% in the period, an increase from 8.7% recorded in H1 2019.
Huaweiās consumer business continued to rake more cash for the company, with 256 billion yuan in sales. The carrier business contributed 160 billion yuan, and the enterprise business accounted for the remainder.
In Q1 the companyās growth slowed as demand for smartphones and networking gear reduced reporting a 1.4% increase in revenue.
The company continues to face sanctions from the US, who have warned that it presents a security risk and has been lobbying allies to block the use of the companyās telecommunications equipment.
Huawei has continuously denied it. The latest rules imposed in May have threatened Huaweiās supply chain by restricting the companyās ability to procure silicon meant for use in its 5G networking gear and smartphones.
āHuawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces,ā said the company in a statement.
Currently, Britainās National Security Council is expected to decide today the fate of the companyās future in its networking equipment. The UK had previously given Huawei a limited role in its 5G networks, but changed mind after new US sanctions, domestic backlash over new rules imposed by Beijing on Hong Kong.
At home, Huawei was awarded the lionās share in 5G contracts. Another Chinese tech company, ZTE, was also awarded the contract which has been in the same hot soup as Huawei since the beginning but doesnāt get as much bad press.
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