Huawei still sees revenue growth despite US pressure, COVID-19
China's tech giant Huawei has posted revenue growth in the first half of 2020 despite the ongoing global health crisis coupled with the US government's move against the former.
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| Huawei books revenue growth |
Huawei records revenue growth
Its revenues in the period jumped 13.1 percent to 454 billion yuan or USD 64.90 billion versus the 401.3 billion yuan a year prior.
Net profit margins were also up by 9.2 percent compared to 8.7 percent in the same period in 2019.
The strong figures only showed Huawei continued to perform well in the global market despite pressures from the Trump administration.
In May last year, Trump declared a national emergency against potential threats to information and communications technology and services, which affected Huawei. Its Department of Commerce then followed suit as it included Huawei on its blacklist.
Early this year, the US government warned anew that it would block global chip supplies to Huawei.
The Chinese government, on the other hand, would not remain silent as it was already planning to take a series of countermeasures versus the US to protect its companies' legal rights amid the raging trade war.
Its chairman Eric Xu previously hit back to the Trump administration, raising a question that if Huawei's 5G technology really poses a threat to the nation, the government should also ban the use of 5G chips, smartphones, and other smart devices developed by American firms.
The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board, Xu added.
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