Huawei Books First Sales Rise Since US Sanctions Hit Its Phones
- Networking gear sales make up for devastated consumer arm
- Huawei is grappling with steadily widening US sanctions
A Huawei Technologies Co. P50 Pocket foldable smartphone.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Huawei Technologies Co. reported its first quarterly sales rise since the end of 2020, as the Chinese telecom gear giant fights to survive the US blacklisting that sank its smartphone business.
Revenue ticked up by 1% to 170.6 billion yuan ($25.3 billion) in the three months ended in June, according to Bloomberg calculations based on the company’s first-half revenues of 301.6 billion yuan. It is the company’s first sales growth since the last quarter of 2020, when US sanctions heavily limited Huawei’s global business.