Despite U.S. Ban, Huawei Had Another Good Quarter

Despite U.S. Ban, Huawei Had Another Good Quarter
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Chinese telecommunications giant Huawei announced its business results for the third quarter of 2019. During the first nine months of this year, the company generated revenue of CNY610.8 billion ($86 billion), up 24.4% year-on-year, with a net profit margin of 8.7%.

In the consumer segment, their smartphone business has grown steadily. Shipments in the first three quarters exceeded 185 million units, representing a year-on-year increase of 26%. The company also saw rapid growth in other new businesses like PCs, tablets, wearables, and smart audio products.

The company said in a statement that it has maintained its focus on ICT infrastructure and smart devices, and continued to boost the efficiency and quality of its operations. This contributed to increased operational and organizational stability and solidified the company's performance in the first three quarters of 2019.

In the carrier business, commercial deployment of 5G networks around the world has sped up, despite the U.S. ban of their equipment and continuous efforts to encourage its global allies to drop the vendor from playing a role in deploying the next-generation technology. To date, Huawei has signed more than 60 commercial contracts for 5G with carriers, which means that in the third quarter alone they have managed to get 10 more contracts. Chinese giant also shipped more than 400,000 5G Massive MIMO active antenna units to global markets.

In the enterprise business, the company launched the Horizon Digital Platform. With this converged, open platform Huawei aims to work with customers and partners to build a digital transformation ecosystem. The company said that by the end of third quarter, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies have selected Huawei as their partner for digital transformation.