Huawei revenue growth slows to 13.1% in first half of 2020 amid US pressure

Huawei Technologies Co Ltd, the telecoms firm and No.2 smartphone maker, on Monday reported a 13.1% rise in revenue in the first half of the year, showing slower growth as US officials continue to pressure the company’s suppliers and customers.

Revenue rose 13.1% to 454 billion yuan ($64.90 billion) in the first half of the year, compared to 401.3 billion yuan the year before. However, the company’s growth rate was down from 23.2% in the first half 2019. Huawei said net profit margins were 9.2%, up from 8.7% in the first half 2019.

The Chinese technology company posted the rise even as American officials have put increased pressure on the company’s suppliers and customers. The company sells 5G networking equipment to carriers and smart phones and laptops to consumers.