From the first six months of the year 2019, the Chinese Telecom Giant has reported 23.29% year-over-increase in their revenues. Despite the political tensions between the US and China Huawei’s business has gone well.
According to the sources, the company said its total revenue came in at 401.3 billion yuan. As well as their net profit margin for the period was 8.7%.
In a press release, the tech giant mentioned their operations are “smooth” and that the “organization is as sound as ever.”
Huawei’s career business which sells core networking equipment reported 146.5 billion yuan in sales revenue.
The company suggests it has secured fifty commercial 5G contracts with leading global telecommunication carriers.
Also, in the years to come 5G is expected to be a major factor in the tech years to come referring to the high-speed mobile internet.
As far as Huawei’s part is concerned it is considered as one of the leading names in the race of developing the 5G technology.
However, the company is facing a few mounting fears, that its technology has access to Chinese intelligence. Although, Huawei has denied itself of all the claims.
However, countries such as the United States, New Zealand, Australia and as well as Japan have restricted the company’s participation.
The countries believe that the telecom giant has contacts with Chinese intelligence and have obstructed Huawei from participating in the 5G development within their borders.
However, the Chinese market is leading to the sales of Huawei mobile phones. According to the Canalys data in total 64% of smartphones that the company shipped for the quarter.
However, the US banned Huawei and was blacklisted as well. Although at the G-20 summit Mr. Trump agreed to free Huawei off some restrictions and Mr. Jinping agreed to buy more of the US agricultural products.