Huawei revenue hikes 30% for the first half despite U.S. restrictions

Huawei has accounted growth in its revenue for the first half of this year despite being banned from getting U.S. techs, says a report.

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According to Bloomberg, Huawei has marked a growth of 30% in its revenue compared to 39% in the first three months of 2019, it was up sharply from 2018, said the people, said people related to the matter.

In addition to revenue growth, the company is also rewarding a number of employees for working on accelerating revenue despite the ongoing challenges from the U.S. trade ban.

The report also says that Huawei has also grown its revenue by capturing more 5G commercial network contract from customers.

In May, the US has put Huawei in an export blacklist citing national security issues, barring the US firms from selling to Huawei without special licenses. Which the government is now planning to ease.

The company’s founder Ren Zhengfei has mentioned the estimates of revenue loss from the US ban up to $30 billion and adding to that the company will surely recover from this hit very soon.