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Huawei's revenues in first half of 2019 up 23.2 percent despite US issues

OPPO
China's Huawei still witnessed "smooth" business operations in the first six months of 2019 despite headwinds it faced brought by the US ban. 
Huawei Chairman Liang Hua

Revenues in the first half reached CNY 401.3 billion (USD 58.26 billion), a 23.2 percent jump against the same period last year. 

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, said Huawei Chairman Liang Hua.

The company's carrier business recorded CNY 146.5 billion in sales revenue as it continued to post growth in terms of production and shipment of equipment for wireless networks, optical transmission, data communications, IT, and related product domains. 

To support the boost in the segment, Huawei has already inked 50 commercial 5G contracts and shipped over 150,000 bases stations in foreign markets. 

Huawei's enterprise business, meanwhile, booked CNY 31.6 billion in sales revenue given its improved information and communications technology portfolio, including cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing.

Moreover, the group's consumer business continued to enjoy the strong performance as it posted CNY 220.8 billion in sales revenue. 

Smartphone shipments in the period, including those from its sub-brand Honor, reached 118 million, an increase of 24 percent year-on-year.

We are fully confident in what the future holds, and we will continue investing as planned – including a total of CNY 120 billion in research and development 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, Liang said.

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