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Huawei revenue growth slows amid tougher US sanctions

Paul Lipscombe
October 23, 2020

The vendor said that the latest figures ‘met expectations’ 

Huawei’s revenue growth has slowed down for the first three quarters of 2020, following a challenging year for the Chinese vendor.

Revenue for the first nine months of the year totalled £76.87 billion, as Huawei battled both the covid pandemic and more significantly crippling US sanctions.

These sanctions has seen the vendor lose out on Google services in its smartphones and has also impacted on its carrier business, amid security concerns.

Although Huawei’s revenue is up 9.9 per cent year-on-year, this figure is down from the 27 per cent jump for the same period last year.

Huawei also revealed that its net profit margin in this period is up eight per cent.

In a statement Huawei revealed that it will continue to focus on its ICT technologies such as AI, cloud and 5G.

The vendor has also reiterated its commitment to being in the UK.

A Huawei UK spokesperson said: “Huawei has been a proud partner to the UK for 20 years. We remain dedicated to delivering industry leading innovation for UK businesses and consumers and helping bridge the digital divide.”

Yesterday (October 22) Huawei revealed its flagship Mate 40 smartphone series.

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