Huawei said it has recorded 23.2 percent growth in revenue in the first half of 2019, despite ban imposed by United States president, Donald Trump.
The company declared revenue of $58.3 billion from the devices unit for the first time, accounting for more than half of all sales.
The result was said to be better than last year’s interim report, in which it posted a 15 percent rise in sales.
The company also announced an increase in net profit by 8.7 percent, saying it has also secured 50 commercial 5G contracts.
Huawei is the world leader in 5G network equipment.
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According to the company’s chairman, Liang Hua, operations of the organisation are smooth, and is as sound as ever.
Part of the company’s report 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. 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. We are fully confident in what the future holds, and we will continue investing as planned – including a total of CNY120 billion in R&D this year. We’ll get through these challenges, and we’re confident that Huawei will enter a new stage of growth after the worst of this is behind us.”