Huawei’s third-quarter revenue increased by 27 per cent in figures that were driven by sales before the Chinese company was effectively banned from doing business with US companies.
The company’s revenue for the first three quarters of the year was an increase of 24.4 per cent year-on-year with a net profit margin of 8.7 per cent. Huawei say that their smartphone shipments have grown steadily throughout the first three quarters of 2019, exceeding 185 million units which represent a year-on-year increase of 29 per cent.
Huawei spokesman Joe Kelly told Reuters: “Our continued strong performance in Q3 shows our customers’ trust in Huawei, our technology and services, despite the actions and unfounded allegations against us by some national governments,” referencing the American allegations that Huawei posed a security risk to the US.
They have since invested $1 billion into its own operating system. Huawei’s Harmony system has already been established in China and the company may look to expand this into European territory if the trade ban is not lifted.
Huawei also claimed to have seen rapid growth in other new businesses like PCs. Tablets, wearables, and smart audio products.
Canalys vice president for mobility Nicole Peng told Reuters: “Huawei’s overseas shipments bounced back quickly in the third quarter although they are yet to return to pre-US ban levels.”
