Huawei Increases Sales Again Despite US Sanctions

Abdul Ghani

Huawei has delivered its first quarterly revenue increase since 2020. This is the result of calculations by the British business broadcaster CNBC, which are based on the Chinese group's semi-annual report, which was published on August 12, 2022.

Huawei has come under massive pressure from US sanctions in recent years. As a result, last year the company reported its first annual decline in sales since its financial reports began.

The latest figures revealed second-quarter revenue of 170.6 billion yuan ($25.5 billion), up 1.4 percent year-on-year, according to calculations by CNBC.

US sanctions are doing damage

This follows a revenue slump of almost 14 percent year-on-year in the first quarter and double-digit declines in every quarter since Q3/2020.

However, in the first six months of 2022, revenue still declined - albeit at a slower pace of 5.9 percent. Of the three main business areas, cloud and enterprise services saw the strongest revenue growth, which totaled about 28 percent, or 54.7 billion yuan, in the first half of the year.

Although the company is privately held, Huawei reports some unaudited financials, including revenue and profit margin, and publishes a more detailed audited annual report every spring.

According to Huawei, the net profit margin for the half-year was 5 percent, after 9.8 percent in the same period last year. Of this, 142.7 billion yuan was for telecom network carriers, 54.7 billion yuan for enterprises,s and 101.3 billion yuan for consumer terminals. The carrier area thus remains by far the largest and grew by 4 percent in a half-year comparison.

"Although we suffered a sharp decline in terminals, our ICT infrastructure business continued to see robust growth," said Ken Hu, Huawei Rotating Chairman. "Looking to the future, we will capitalize on the trends in digitization and decarbonization."

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Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed, LifeHack.org, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.

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