Huawei, on Sunday, is set to mark six months, or 180 days, since the U.S. government ordered a blanket ban on the Chinese tech giant. Industry experts noted that despite the many obstacles since the blacklisting, the company has become stronger and more resilient.
According to the South China Morning Post, the new milestone in Huawei's U.S. blacklisting survival is worth all the attention, considering that the tech equipment provider has even pursued its 5G initiatives in other countries.
Aside from securing deals with some key western countries to help build 5G networks and pursue projects related to the high-speed technology, the company also posted total revenue of 610.8 billion yuan from the January to September period.
Analysts are expecting the White House shunned company to surpass $100 billion in sales this year as it already has over 60 commercial 5G network contracts across the globe that should help boost growth.
Before all the success, some industry experts predicted shortly after Washington blocked U.S. firms from working with Huawei that the Chinese tech crown jewel would gradually break down.
Almost six months after the blacklisting, Huawei is rising above each obstacle. Some industry experts noted that chief executive and founder Ren Zhengfei's strategy of being more "transparent" to the public helped keep the company afloat.
Before the blacklisting and before his daughter, chief financial officer Meng Wanzhou was arrested upon the request of the U.S. government, Ren didn't appear much in public but recently, he has been appearing in multiple events and opening up about the business.
Atherton analyst Su pointed out that while the U.S. blacklisting had a huge impact on the company's credibility, Huawei defied analyst expectations by displaying a massive amount of heart in the midst of adversity.
"We believe that Huawei's growth will continue in the last quarter of the year - and beyond," Su said, adding that the company efforts in replacing most of the components it can no longer access from American brands helped turn the tables on the devastating ban.
One of the latest defying developments in the Chinese company's self-dependence streak is the announcement by Hungarian minister of foreign affairs and trade, Peter Szijjarto, who said earlier this week that Huawei will build the country's 5G network.
According to Hungary Today, Szijjarto said during the opening day of the China International Import Expo (CIIE) that the Chinese tech giant will collaborate with Deutsche Telekom and Vodafone for the project.
The White House under U.S. President Donald Trump's administration has been calling on its western allies to block Huawei from participating in their 5G projects. However, several countries, including Hungary, snubbed the American leader's calls to favor China's leading tech equipment provider.
On Wednesday, Ren revealed that he is willing to speak with Trump, but the latter should travel to China for the meeting to take place, Business Insider reported.
While Ren, in the past, has offered confusing statements regarding a potential meeting with Trump, it appears that a meetup is now more plausible due to developments in the China-U.S. "phase one" trade deal.
