Huawei sees growth in revenues and 5G contracts despite US ban

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Huawei appears to be weathering US sanctions after posting steady growth in sales and in new contracts for its 5G mobile technology, but the Chinese telecoms group still faces the challenge of selling smartphones without Google apps. Sales began to slow from the second to third quarters, and fourth-quarter revenues will need to rebound by 15 per cent for Huawei to meet its $100bn target for annual sales. “The worst is yet to come for Huawei,” said Lv Junkuan, an analyst at Gartner, adding that the real test would be when the Mate 30 smartphone series went on sale.