Huawei’s Third Quarter Results Good Despite Blacklisting

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The third quarter of Huawei in 2019 has been good.

The revenue for the first three quarters has increased by 24.4 percent, year-on-year, bringing up its leadership in the telecom network equipment.

Revenues have grown to $86.2 billion, while net profit margins have gone up 8.7 percent this year.

By improving the quality and efficiency of its operations, especially smart devices and ICT infrastructure, Huawei has managed to show solid performance for the first three quarters in 2019.

 Innovative solutions have been provided in its carrier business, with smart transport networks and its 5G Super Uplink. 60 commercial contracts have been signed for 5G with important global carriers.

Huawei was facing an immense threat when the U.S. blacklisted the company in the month of May. U.S. companies were not allowed to trade with Huawei and key parts were not supplied to the company. Yet, Huawei has seen rapid growth in sales in some of its businesses like tablets, PCs, and smart audio products.

The U.S. cited security reasons for blacklisting the company. The U.S. claimed that Huawei equipment had security loopholes, by which global communication traffic was spied upon by China’s government.

The company has partnered with more than 700 cities over the first three quarters of 2019. About 228 companies from Fortune Global 500 have chosen Huawei as their partner in digital transformation. 60 commercial contracts have been signed for 5 G, with leading carriers globally.

About 185 million smartphones have been shipped to other countries over a period of nine months in 2019, which is an increase of 26percent. Huawei is one of the leading smartphone manufacturers in the world.

HUAWEI CLOUD has been used by over 3 million users to develop their products and solutions, with improved cloud service development.  The company’s Mobile Services ecosystem has shown brisk expansion with good growth in more than 170 countries. More than 1 million developers have been registered worldwide.

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