Huawei's logo is displayed at their store in Vina del Mar, Chile, July 18, 2019.
Rodrigo Garrido | Reuters
China's Huawei reported a 23.2% year-over-year increase in revenue for the first six months of 2019, despite facing political tilt.
The company said its total revenue was 401.3 billion yuan ($ 58.26 billion) and its net profit margin for the period was 8.7%. In a press release, the tech giant said its operations were "smooth" and that "the organization is as good as ever."
The Huawei carrier, which sells core network equipment, reported 1
For its part, Huawei is considered one of the leading names in the race to develop emerging 5G technology. But the company faces growing fears that its technology could enable Chinese espionage through these high-speed mobile networks. Huawei has repeatedly denied that its products pose any risk.
However, countries such as the US, Australia, New Zealand and Japan have limited the company's involvement in the development of 5G within its borders.
In May, the US added Huawei and its affiliates to the Bureau of Industry and Security (BIS) Entity List, which virtually stopped its ability to do business with US companies. Later, Washington somewhat softened its position, and the technology company could potentially be used as a trading chip in ongoing trade talks with Beijing.
"Revenue grew rapidly in May," Huawei Chairman Liang Hua said in a statement. "Given the foundation we put in the first half of the year, we continue to see growth even after being added to the list of entities. This does not mean that we have no difficulty going forward. We do and they can influence the pace of our growth in the short term. "
Huawei founder and CEO Ren Zhengfei said earlier in June that the US government had launched" precision "strikes against us, with each" strike "affecting vital parts."  He said at that time that manufacturing Huawei's capacity may decline in the coming years and sales revenue "will be about $ 30 billion lower than projected." Previously, Rehn had forecast that Huawei's annual sales revenue would be about $ 100 billion in 2019 and 2020.
Huawei for the first time tops $ 100 billion in revenue.
Huawei Phones dominate China
The consumer business of the tech giant that sells smartphones, tablets, PCs and wearables , reported revenue of 220.8 billion yuan.
Huawei stated that it delivered 118 million smartphone units for the first half of 2019, which led to a 24% jump in the year. This figure includes Honor-branded phones,
The company is now the second largest smartphone maker in the world by shipment volume. In China, Huawei consolidated its lead by gaining 38.2% of its market share in the three months ending June as major competitors, according to a new report by research firm Canalys.
A total of 64% of the smartphones that company According to Canalis shipments for the quarter were in China.
"Adding Huawei to the US list has caused uncertainty overseas, but in China it is keeping its foot on the accelerator," said a research firm in Mo Jia. "Its core strategy remains to invest in aggressive offline expansion and entice consumers with competitive brands.
"The US-China trade war also creates new opportunities," added Mo Jia.