Earlier this morning Huawei revealed its report for the first half of 2019. It has been a rather intense past few months for the Chinese firm, with uncertainty surrounding its mobile business being one of the key talking points following trade restrictions being imposed by the United States.
Said restrictions have since been lessened, but the firm was still anticipated to take a knock as a result, and expected to need some time in order to bounce back.
As it turns out though, the company’s demise appears to have greatly exaggerated, with the H1 2019 report confirming a 23.2 percent increase in revenue compared to the same period last year. This is quite surprising, especially how strong a year Huawei had in 2018 following the release of its P30 Pro series, as well as increased efforts in the 5G hardware race.
During H1, the firm’s consumer business was buoyed by smartphone shipments hitting 118 million units, including that from Honor devices, which is up 24 percent year-on-year.
The firm’s carrier business is also moving along steadily, with a reported 50 commercial 5G contracts in place to date, and more than 150 000 base stations being shipped across the globe to select markets.
“Revenue grew fast up through May,” explained chairman Liang Hua.
“Given the foundation we laid in the first half of the year, we continue to see growth even after we were added to the entity list. That’s not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term,” Hua added.
“But we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned – including a total of CNY120 billion in R&D this year. We’ll get through these challenges, and we’re confident that Huawei will enter a new stage of growth after the worst of this is behind us,” he concluded.
Whether that is indeed the case remains to be seen, with the unpredictable nature of the Trump presidency a factor that is hard to ignore. As such we’re not 100 percent sure Huawei is out of the woods yet.