Editorials

Huawei Bags 8.7% Net Profit in its Q3 2019 Financial Report

The US ban did not completely affect Huawei

Despite all the brouhaha Huawei is facing with the Trump administration, the Chinese tech brand’s overall revenue remains unscathed. In its 3Q 2019 financial report, Huawei said that it has generated CNY 610.8 billion in revenue, which is a 24.4% increase year-on-year and resulted in an 8.7% net profit for the said period.

In the report, Huawei stated that it has focused heavily on ICT infrastructure and smart devices. These include its rapid deployment of commercial 5G globally—where it has signed more than 60 5G commercial contracts to date, the rapid development of its cloud services, and its digital transformation efforts through the Huawei Horizon Digital Platform.

As for smartphone sales, the US ban did not completely affect Huawei: its smartphone shipments for the first three quarters of 2019 exceeded 185 million units—which translates to a year-on-year increase of 26%.

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