Huawei's First-Half Revenue Fell 5.9%, ‘in Line With Forecast’

Huawei generated revenue of 301.6 billion yuan ($44.7 billion) in 2022's first half, down 5.9% from January-June a year earlier, reported the Chinese telecom Friday. “Overall performance was in line with forecast,” it said. “While our device business was heavily impacted,” its wireless infrastructure operation “maintained steady growth," it said. Huawei’s revenue has been on the decline since the Commerce Department's Bureau of Industry and Security added the Chinese company and its affiliates to the entity list in 2020, restricting its access to U.S. technology (see 2008170043).