Huawei revenue jumps by 30 percent in H1 2019 despite US blacklist: Report

tech2 News StaffJul 25, 2019 11:16:27 IST

Huawei has been subjected to a lot of pressure from the US blacklist a month back and it was assumed that the sales of the Chinese tech giant would take a major hit. However, new reports have indicated that instead of declining, the company sales have actually risen significantly.

A Huawei company logo is seen at the Shenzhen International Airport. Image: Reuters

As per a report by mobileworldlive, from the period of January to June, the company has pulled in increased revenue of 30 percent year-on-year. CEO Ren Zhengfei had earlier said that US restrictions would take $30 billion over the next two years. We will have to see if that holds true but these figures indicate that the company is doing well for itself.

The reason for the strong first-half growth appears to be due to the 50 5G commercial contracts that Huawei has signed with various countries and 28 more to come. The fast growth in the 5G segment is said to put up double-digit growth for Huawei's carrier division, the report quotes chairman Ken Hu as saying.

In more news related to Huawei, as formulated a partnership with Indian brand Micromax for selling its devices in the country. The partnership could also be beneficial to Micromax, which has steadily lost ground due to the emergence of Chinese players such as Oppo, Xiaomi and Vivo. As per Mobile Indian, an announcement of this deal could be official soon.