https://www.wired.com/story/huaweis-earnings-mask-trouble-outside-china/

Amid ongoing tension with the US government, Huawei put a good face on its half-year earnings report last week. The Chinese telecom giant touted a 23 percent increase in year-over-year revenue for the first six months of 2019, a contrast from recent woes including the arrest of CFO Meng Wanzhou in Canada last December, and President Trump barring most sales by US companies to the country in May. Underpinning the tension are accusations that the company spies on users and clients for the Chinese government, a charge that Huawei has repeatedly denied.

Behind the headline revenue number, though, the financial results suggested that Huawei’s smartphone business, in particular, is suffering from US hostility. American makers of chips and software curtailed sales to the Chinese company after Trump announced the sanctions in May, though the administration last month said it would allow sales to resume in cases “when there is no threat to national security.”