Huawei increased first-half revenue despite US trade ban, chairman says

The stakes are high for Huawei because the trade ban was earlier estimated to wipe out US$30 billion of sales growth

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Telecommunications equipment maker Huawei Technologies was put on the US government trade blacklist in May this year. Photo: Bloomberg

Li Taoin Shenzhen

Published: 1:45pm, 12 Jul 2019Updated: 11:01pm, 12 Jul 2019

Huawei Technologies, the world’s largest telecommunications equipment supplier, increased revenue in the first half of this year, despite a US government-imposed trade ban and continued scrutiny overseas about the security of its 5G network products.

“Huawei’s entire businesses ran smoothly [since that ban],” said company chairman Liang Hua, who declined to provide specific figures, at a press conference in Shenzhen on Friday.

The privately held company, which is expected to announce its financial performance for the first six months of this year on July 30, was put on a trade blacklist – known as the Entity List – in May by the US Department of Commerce, citing national security concerns. That has effectively barred the firm from buying hardware, software and services from its American hi-tech suppliers.

“Adding Huawei to the Entity List was neither justified nor fair,” Liang said. “It is not enough to ease restrictions on some US suppliers. We should be removed from the list entirely.”

Huawei Technologies chairman Liang Hua has called on the US government to remove the company from its trade blacklist. Photo: Reuters

Liang’s comments followed the announcement by US Commerce Secretary Wilbur Ross on Tuesday that Washington will allow American companies to sell their products to Huawei so long as these would not pose a threat to national security.

The stakes are high for Huawei because the US trade ban was earlier estimated to wipe out US$30 billion of sales growth.