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Huawei's First Half Revenue Growth Accelerates Despite U.s. Sanctions

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By Reuters

SHENZHEN, CHINA (JULY 30, 2019) (REUTERS) HUAWEI TECHNOLOGIES CHAIRMAN LIANG HUA WALKING TO PODIUM MEDIA SITTING (SOUNDBITE) (Mandarin) HUAWEI TECHNOLOGIES CHAIRMAN, LIANG HUA, SAYING: "In the first half of the year, our revenue achieved 401.3 billion yuan ($58.28 billion), which grew 23.2% compared to the same period last year. Our profit margin is 8.7%. In terms of our revenue, the total business of our trade is about 146.5 billion yuan, that of enterprises is 31.6 billion yuan, and that of consumers is 220.8 billion yuan." MEDIA CONFERENCE IN PROGRESS (SOUNDBITE) (Mandarin) HUAWEI TECHNOLOGIES CHAIRMAN, LIANG HUA, SAYING: "Even when Huawei was included in the U.S. sanction list, we are still growing due to the inertia of the market. Therefore, in the first half of this year, we should say that our company's performance should be relatively good and we have achieved steady operation and effective growth. But we also need to look objectively, we are still facing a lot of difficulties, and in the second half of the year these difficulties will remain relatively big." REPORTER ASKING QUESTIONS AS MEDIA SITTING (SOUNDBITE) (Mandarin) HUAWEI TECHNOLOGIES CHAIRMAN, LIANG HUA, SAYING: "If the U.S. government allows Huawei to use Android operation and ecosystem, we will still choose it, we will use it for our smartphones. If we are not allowed to use the system, we have the ability, and you may also see in that in our future products. Not only just words, unlike what you said which is a response to the crisis negotiation strategies, I don't think so." MEDIA SITTING (SOUNDBITE) (Mandarin) HUAWEI TECHNOLOGIES CHAIRMAN, LIANG HUA, SAYING: "Then I think the 5G and the 5G products, have not been affected by the U.S. ban. Because we have done preparations in our 5G products. So the supply of 5G products has not been affected. So even after the sanction list issued on May 16, we still signed eleven 5G commercial contracts." NEWS CONFERENCE IN PROGRESS
Dateline: 2019

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