Huawei Technologies posts 23% H1 revenue growth despite US sanctions

HONG KONG: China’s Huawei Technologiessaid on Tuesday revenue in the first half of the year grew 23.2% – faster than a year ago – despite an intense US campaign against it that ultimately became a trade ban from mid-May.

Unlisted Huawei, which only started disclosing quarterly results this year, said revenue in the first half rose to 401.3 billion yuan ($58.28 billion) from 325.7 billion a year ago, with smartphone shipments reaching 118 million units, up 24%.

Huawei’s supply chain was significantly disrupted when it was put on a trade blacklist by Washington in mid-May. The U.S. government alleges it is a national security risk as its equipment could be used by Beijing to spy, which Huawei has repeatedly denied.