Huawei sales steady, defying U.S. pressure
BEIJING — Huawei says its sales growth recovered in the most recent quarter, suggesting the Chinese technology giant has been successfully weathering the Trump administration’s efforts to stymie its business around the world.
The United States added the maker of smartphones and telecom gear to an export blacklist in May, restricting its access to many of the U.S.-origin parts it needs to make its products, and causing the company’s revenue growth to take a hit.
But Huawei said Wednesday that its sales between January and September were $86 billion, an increase of nearly 25 percent compared with the same period last year.
That implies, based on comparisons with previously released figures, that sales accelerated in the July-to-September quarter.
Huawei is the world’s leading producer of the equipment that powers cellphone networks. But U.S. officials long have been concerned that the company’s products could be used in intelligence-gathering by the Chinese government, an accusation Huawei repeatedly has denied.
Washington’s warnings so far have failed to halt Huawei’s drive to remain a powerhouse supplier as telecom carriers around the world upgrade their networks to the next generation of wireless technology, or 5G.
The company said Wednesday it had signed more than 60 5G contracts worldwide, up from 50 a few months ago.
Huawei’s shares aren’t publicly traded, which means it has no legal obligation to announce its financials. The company began reporting quarterly results only this year, and the figures it provides aren’t audited. It also can be selective about which numbers it shares.
The U.S. blacklist has not yet amounted to an airtight ban on U.S. technology sales to Huawei. For the past few months, the Trump administration has permitted sales to Huawei that are used to maintain mobile networks.