AFP – Chinese tech giant Huawei said yesterday that sales surged in the first half of the year, even as it struggles under the weight of sanctions that have deprived it of technology from the United States (US).
Since 2019, the sanctions have cut Huawei off from global supply chains for technology and US-made components, hammering its production of smartphones at the time.
Yesterday it posted sales of USD58.72 billion in January-June, an on-year increase of 34.3 per cent. That compares with 3.1 per cent growth in the same period last year. It did not break down net profit. Huawei is a private company that is not publicly traded and is therefore not subject to the same obligations as other companies to publish detailed results.
The firm’s profit margin reached 13.2 per cent in the period, down from 15 per cent a year earlier, it said. It did not provide other financial details.
Huawei remains the world’s leading equipment manufacturer for 5G, the fifth generation of mobile internet, and has been involved in infrastructure projects in several countries.
It was once among the world’s top three smartphone makers, alongside Samsung and Apple.
