Huawei says its first-quarter revenue jumped 39% despite political pressure
It’s the first time ever that Huawei has released a quarterly earnings report. The company usually reports financial results for half a year and then the full year. Now, however, the company is seeking to show it is still growing despite effectively being banned from being involved in the rollout of 5G in Australia and Japan.
The U.S. has reportedly tried to pressure other allied countries like Germany and the U.K. to block Huawei from 5G, but neither country has done so yet. Washington has accused Huawei of being a national security risk, warning that its equipment could be used by the Chinese government for espionage purposes. Huawei has repeatedly denied this claim.
In a recent interview with CNBC, Huawei’s founder Ren Zhengfei said that the U.S. has been helping advertise for the company by talking about it so much.