Huawei H1 Revenue Grows 30 Percent Despite US Ban

The company has pulled in increased revenue of 30 percent year-on-year. CEO Ren Zhengfei had earlier said that US restrictions would take $30 billion over the next two years.

The reason for the strong first-half growth appears to be due to the 50 5G commercial contracts that Huawei has signed with various countries and 28 more to come. The fast growth in the 5G segment is said to put up double-digit growth for Huawei’s carrier division, the report quotes chairman Ken Hu as saying.

Huawei has so far managed to boost revenue by aggressively securing contracts for fifth-generation networking equipment.

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