Even US sanctions could not stop the young high-tech Chinese company Huawei. The company has reported a 23% increase in revenue for the first half of this year.
The report says that the company’s revenue has amounted $ 58.3 billion. Consumer business of Huawei shows a good increase. Smartphone sales have grown 24%.
In May, the States imposed fairly strict sanctions to the Huawei company. The US government decided that the company was collecting information in favor of the Chinese authorities. The company rejected such allegations, but its operations in America have remained substantially limited since then.
Huawei founder and CEO Ren Zhengfei said in June that the US restrictions could cost the corporation $ 30 billion. It should be noted that because of such restrictions his company is not allowed to buy components from US manufacturers.
In late June, there was a meeting of the leaders from America and China, which took place during the G20 Summit. It was decided to resume negotiations between the powers. US President Trump lifted restrictions against Huawei. However, the head of the Chinese manufacturer said that restrictions continued and the situation hadn’t improved.