China’s Huawei Technologies Co. said revenue rose sharply in the first half of the year despite a US export blacklisting, but the Chinese telecommunications giant signaled tougher times ahead as it copes with uncertainty around its access to US technology, said the Wall Street Journal.
The Shenzhen-based company said revenue rose 23% to RMB 401.3 billion ($58.3 billion) from a year earlier. The figure marked an acceleration in growth from the previous January-to-June period.
However, Huawei said it continues to face obstacles to securing certain crucial technology. The company sees challenges ahead for its once-booming consumer products operation, including its popular smartphone business, it said.