What's happened
Huawei's revenue in H1 2024 matches pre-sanction levels, showcasing its resilience amid US trade restrictions. Meanwhile, UK retailer Next reports a 23% rise in overseas sales, driven by global fashion trends and tech platforms, boosting its profit forecast.
Why it matters
What the papers say
According to the South China Morning Post, Huawei's financial data shows resilience despite US sanctions, with revenue in H1 2024 matching pre-sanction levels. The report highlights the company's advancements in semiconductor technology, particularly with the Mate 60 Pro 5G. In contrast, BBC News and The Guardian emphasize Next's international sales growth, attributing it to the influence of global media on fashion trends. Next's CEO noted that the company is entering a new phase, with over half of sales now online, reflecting changing consumer behaviors. The Guardian also points out that while international tastes are converging, cultural differences remain significant.
How we got here
Huawei has faced US sanctions since May 2019, impacting its operations. Despite this, the company has made strides in tech self-sufficiency. Next has adapted to changing consumer preferences, leveraging global media to enhance its international sales.
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