Huawei Chairman says revenue in first-half increased despite US restrictions

Huawei today released its sustainability report of 2018 and at the press conference, Chairman of Huawei, Liang Hua addressed the media, saying that the company has made substantial growth despite the US trade restrictions and ban over its network products.

Huawei releases 2018 Sustainability Report

“Huawei’s entire businesses ran smoothly [since that ban],” said Liang, who declined to provide specific figures, at a press conference in Shenzhen on July 12, reported SCMP.

The US trade restrictions, according to the company’s founder and CEO Ren Zhengfei, would cost around $30 billion from the total projected revenue $100 billion for this and the upcoming year.

Back in May, the US Commerce Department added Huawei in the ‘Entity List’ which bars the company from accessing U.S origin technologies, as recent words from Donald Trump has brought ease in the trade restriction to allow companies to do business with Huawei.

Liang also said that Huawei has opposed US’ baseless actions to blacklist Huawei, such decision is not in favor of many companies and peoples around the globe, and called it ‘unfair’. Therefore the US should cancel its ban on Huawei.