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Huawei warnings on growth despite half-year revenue surge
- Wednesday | 31st July, 2019
HONG KONG/SHANGHAI (Reuters) – Chinese tech giant Huawei Technologies warned on Tuesday a US trade blacklisting will impact short-term revenue growth, even as its half-year revenue surged 23% thanks to soaring smartphone sales at home. “Revenue grew fast up through May,” Huawei Chairman Liang Hua told reporters at an earnings briefing. It could cost the company $30 billion in revenue, and that Huawei’s revenue this year and in 2020 could stay roughly the same as 2018 at around $100 billion, he said. Liang said that the company’s proprietary Hongmeng mobile operating system was still under development for connected devices, and that its preference was to continue to use Google’s Android operating system for mobile. Huawei has given little information about Hongmeng, its own back-up operating system under development in case it was cut off from US-made software.
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