Chinese telecom giant Huawei recorded a 6.2% annual decline in revenue in the first half of 2022, according to group data released on Friday.
The company, which faces US sanctions, earned 301.6 billion yuan ($44.8 billion) between January and June, up from 320.4 billion yuan a year earlier.
The covid-19 pandemic and the global situation have “strongly” affected the group’s activities, admitted Huawei’s acting chairman, Ken Hu.
“While our device business has been hit hard, our ICT (Information and Communication Technology) infrastructure business has maintained steady growth,” the executive added, however.
The profit margin reached 5%, according to a statement from the company, which did not present financial results for the period. A year earlier, this coefficient that measures profitability was 9.8%.
The group, based in Shenzhen in southern China, is at the center of an intense technology rivalry between China and the United States.
Washington regularly accuses Huawei of posing a danger to national security due to its possible links to Chinese intelligence services, something the company denies.
In 2018, the Trump administration put Huawei on the sanctions list, banning American companies from selling it sensitive technology, including microprocessors. The current Biden administration has not changed that policy.
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