Huawei sees sales surge by 24.4% despite its US issues
CAPE TOWN – Huawei Technologies has released impressive third-quarter results which saw results rise by 24.4 percent during the first nine months of the year despite its challenges with the US government.
During this period the Chinese technology giant shipped 185 million smartphones which is a 26 percent increase from the previous year. Future results in 2020 may reveal a clearer picture of the impact of trade restrictions as current results were unaudited.
Chinese tech giants ability to still ship so many phones in 2019 suggests its lead in the Chinese market is keeping its sales afloat even though there’s less demand abroad. According to IDC the global market intelligence firm, China shipped 206 million smartphones in 2018. The company also saw rapid growth in other new businesses like PCs, tablets, wearables, and smart audio products.
Huawei also reported revenue of $86.1 billion during the past nine months period. In the carrier business, commercial deployment of 5G networks around the world has sped up. Huawei has continued to launch innovative solutions with leading carriers like 5G Super Uplink, smart & simplified transport networks.
The company has also worked with industry partners to establish an industry alliance and an industry innovation base for 5G deterministic networking to enable the innovation and growth of carriers.
To date, Huawei has signed more than 60 commercial contracts for 5G with leading global carriers and shipped more than 400 000 5G Massive MIMO active antenna units (AAUs) to global markets. The production and supply of Huawei's optical transmission, data communications, and IT products grew steadily.
The Chinese larget tech company has said it has maintained its focus on ICT infrastructure and smart devices and continued to boost the efficiency and quality of its operations. The tech giant said that this has contributed to increased operational and organizational stability and solidified the company's performance in the first three quarters of 2019.
The 5G business is also showing positive signs. Huawei said on Wednesday it has signed more than 60 5G commercial contracts to date worldwide.
Huawei has continued to launch innovative solutions with leading carriers like 5G Super Uplink, smart & simplified transport networks. The company has also worked with industry partners to establish an industry alliance and an industry innovation base for 5G deterministic networking to enable the innovation and growth of carriers.
Earlier this week Germany has indicated that it won’t ban any operator, which signalled that the country is not bowing to US pressure to shut out Chinese tech giant Huawei from its 5G networks.