Kenneth Afor with agency report.
Chinese phone maker, Huawei Tuesday announced its financial earnings for the first half of 2019 with a 30 percent increase amid sanctions from the United States of America (USA) over threat to national security at the early period of the year.
Early this year, the US blacklisted the company restricting suppliers from taking orders from the world’s second largest smart phone maker without prior notice.
The Asian phone making giant had secured critical supplies through its carefully selected teams to keep productions going, according to a news wire report monitored by businessamlive.com
Huawei’s revenue growth of 30 percent in the first half of the year is a pick up from 39 percent in the first three months of 2019 but performed better this period in 2018, the report stated.
The magic from the company that resulted in the surge of the company’s revenue was the aggressive move it made to secure contracts for fifth-generation networking equipment before the sanction from US.
Following the sanction, the company had earlier made a remark of cutting its revenue expectation for the year, adding that it did not envisage such move from the US on placing a sanction on its products in the US. The company has since remained silent on US’s claim.
capital market September 30, 2019