Huawei Revenues Grow by 30 Percent Amid U.S. Restrictions

0
Huawei
Shares

Huawei has been on a hot seat since May 2019. The Chinese tech corporation, which has made a name for itself by building networking infrastructure for carriers across the globe and selling class-leading Android smartphones was banned from doing business with American companies after a directive issued by the super power’s President and Department of Commerce. Huawei would then lobby for the lift of the ban, which irked most of its non-American customers. The issue escalated when the U.S. started mounting pressure on its allies to stop doing business with the company.

In one way, the ban offered a ton of free publicity for Huawei. While users of the Huawei phones were unsure of the future of the company, the firm did not stop issuing progress reports, which included cases that it had anticipated the conflict, and had since built an in-house operating system for future devices. Later, it would emerge that the OS under discussion was meant for other connected devices besides phones – although it did not matter much then as the U.S. had softly lifted the ban.

Currently, Huawei is negotiating with the U.S. for an amicable settlement of the matter, although the entire charade is subject to political and secret business tussles that we may never hear of.




The suspension of the ban may imply that we will see new phones from the company, including the Mate 30 Series of devices that are released to compete with Q4 announcements, including handhelds from Samsung (Note10) and Apple (iPhone 11).

Amid an unstable business environment, Huawei managed to record a 30 percent jump in revenues for the first half of 2019 compared to the same period in 2018. The growth was preceded by 50 new 5G contracts that will see Huawei build infrastructure for cutting-edge cellular connections. More than half of those contracts were signed by carriers in Europe.

Shares

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.