Huawei: Chinese tech giant Huawei posts 34.3% rise in first half sales

Chinese technology giant Huawei He said on Thursday that sales rose 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.

The Shenzhen-based company has been at the center of an intense technological rivalry for several years between Beijing and Washington, with US officials warning that its equipment could be used to spy on behalf of Chinese authorities, accusations the country denies.

Since 2019, sanctions have cut Huawei off from global supply chains for US-made technology and components, which at the time has affected its smartphone production.

On Thursday, the company reported sales of $58.72 billion in the January-June period, representing a year-on-year increase of 34.3 percent, compared with 3.1 percent growth in the same period last year.

Net profits were not disclosed. Huawei is a private, unlisted company and is therefore not subject to the same obligations as other companies to publish detailed results.

The company’s profit margin reached 13.2 percent in the period, up from 15 percent a year earlier, it said, without providing other financial details.

Huawei remains the world’s leading manufacturer of equipment 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.

But US sanctions have forced it to reorient itself towards sectors such as software, business computing and even electric vehicles with its Aito brand.

The electric vehicle sector is booming in China, the world’s largest market, where local brands have gained popularity in recent years.

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