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Huawei's revenue up by 30 percent despite previous US restrictions

OPPO
Despite the US trade blacklist in May, Huawei recorded better than expected growth in revenue for the first half of 2019.
Huawei's revenue up by 30 percent despite previous US restrictions
A good sign for Huawei?

Revenue up by 30 percent

In the January to June period, Huawei recorded a 30 percent YoY (year-on-year) increase in revenue. Huawei announced the strong results came after the company revealed that it has signed 50 5G commercial contracts around the world.

Most likely, the reason behind this is Huawei reportedly stockpiled supplies of critical components before the restrictions were imposed.

Mobile World Live reported that Huawei's 2018 revenue increased 19.5 percent to CNY 721 billion ($105 billion), while revenue in the first quarter of 2019 jumped 39 percent year-on-year to CNY 180 billion.

To recall, Huawei founder and CEO Ren Zhengfei warned in June that the restriction might take USD 30 billion to its top-line over the next two years and revenue expected to decline to about USD 100 billion this year.

But fortunately for Huawei, the US has softened its stance against them. Now, there are predictions that Huawei may exceed market expectations for its smartphone business in 2019.

What do you guys think?

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