CHINESE tech giant Huawei said its global sales rose by double digits in the first half of this year despite being placed on a US security blacklist but said it will face tougher conditions.
The company said Tuesday, July 30, 2019, that sales in the six months ending in June rose 23.2 percent over a year earlier to 401.3 billion yuan (US$58.3 billion).
That was up from 2018’s full-year growth rate of 19.5 percent. The company’s chairman, Liang Hua, said sales have suffered “some impact” since the Trump administration imposed curbs in May on sales of US technology to Huawei but he gave no details.
Liang said Huawei has avoided disruptions in production and sales but added “we still face difficulties ahead” in the second half of the year.
Meanwhile, Huawei has ranked 61st on the Fortune 500 list. This year’s ranking represents an 11-point jump from 2018 and an impressive 68-point leap from 2017.
Fortune 500 ranking
The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies compared with other lists.
The Fortune 500 rankings have become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a parameter of global economy that transcends borders, nationality and cultural differences.
“Our continued elevation in the Fortune 500 list rankings is yet another notable marker of success for the company in 2019,” said Richard Yu, chief executive officer of Huawei consumer business group.
“Our dedication to delivering the latest technologies to our customers, with a sharp focus on innovation through commitment to investing in research and development has enabled us to continue to enjoy record success,” he added. Earlier this year, Huawei ranked 47th on BrandZ’s annual Top 100 Most Valuable Global Brands. (AP with PR)