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Trump Can’t Stop Us: Huawei Gets More Revenue Despite US Ban

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Huawei is still thriving despite the United States trade wars. The Chinese tech giants have made a total revenue of 221.6 billion yuan (₦11.6 trillion) between April and June 2019. This amounts to a 23% increase over the previous quarter. This is despite the trade wars that caused the US to cut off Chinese businesses from working with American companies.

 

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The company also had a net profit margin of 8.7% with a revenue of 401.3 billion yuan (₦20.9 trillion) in the first six months of 2019. Huawei said it sold 118 million smartphones in the first half of 2019. This accounts for 59 million phones per quarter. It represents a 24% year-on-year increase.

 

Huawei

 

Consumer businesses by Huawei were able to rake in 220.8 billion yuan (₦11.5 trillion) in revenue during the same period. This made up about 55% of the company’s total sales.

 

The Chairman of Huawei, Liang Hua in a statement said,

“Revenue grew fast up through May. 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.”

 

More revenue for Huawei

He added, “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. But we will stay the course.”

 

The company is not obligated to declare its financial figures because of its private ownership structure. However, the company still obliged but with far fewer details as most public companies.

 

Interestingly, Huawei’s major competitors experienced double-digit declines. Reports suggest that major players in the market like Xiaomi, Oppo, Vivo and Apple faced a decline in sales. China is Huawei’s biggest market as it accounts for 64% of its shipments since 2013. Huawei legit continues to dominate the Chinese market as it continues to grow at home.

 

The war between Huawei and the US started to escalate in May 2019. The US government had accused the company of spying on it for the Chinese government.

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