BEIJING/HONG KONG - Huawei Technologies Co. quickened revenue growth to roughly 30 per cent in the first half after select teams secured critical supplies to keep production going despite US technology export restrictions, people familiar with the matter said.
Huawei is pulling out all the stops right now to boost sales, assigning as many as 10,000 developers across three shifts a day to work on alternatives to American software and circuitry. It has thus far managed to boost revenue by aggressively securing contracts for fifth-generation networking equipment, the people said.
The recipients were mainly responsible for hoarding components ahead of the ban, identifying replacements for American parts or negotiating with suppliers to keep up the flow of materials. It wasn't clear if they got actual financial remuneration. It's now making adjustments to businesses most threatened by US sanctions, reassigning employees from the carrier and enterprise units to the faster-growth consumer division, the people said.
Both sides are moving toward their first face-to-face trade negotiations in months, taking another step toward potentially easing curbs on Huawei. US companies have lobbied Washington to lift those restrictions, arguing the Chinese corporation could easily find replacements elsewhere. On Monday, the Washington Post, citing internal documents and unidentified people, reported Huawei may have partnered with a Chinese state-owned firm to help North Korea build and maintain its wireless network.
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Source: BusinessTimes - 🏆 15. / 51 Read more »