Huawei: the higher third quarter revenue in spite of the U.S. ban

Explained company Huawei, the largest company to sell communications equipment in the world and the largest brand for smart phones in China, that revenues in the second quarter grew by 26.7 percent year on year to 209.5 million yuan (29.6 million USD) in spite of the ban imposed in May prevent them from buying the American Library and software.

The company achieved revenues of 610.8 billion yuan ($86 million) in the first nine months of 2019, an increase of 24.4 percent year on year, according to Huawei, the net profit margin of 8.7 percent, unchanged from the first six months.

Revenue growth was Huawei’s grew by 24.4 percent in the first three quarters of 2019, faster than the rate of 23.2 percent year on year in the first half of 2019, but a decline from the growth rate of 39 percent year on year in the first quarter of this year.

The company said the Shenzhen-based, which focuses on ICT infrastructure and smart devices: it’s business achieved stable during the first three quarters of the year.

Abstained Huawei to disclose the revenue figures for the separate business sectors of the three major consumers, telecommunications companies and corporations.

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The company continues to Chinese the with the US trade embargo, in spite of Washington’s decision in August to grant a further period to buy the main components from American technology companies.

He said the company’s founder and CEO, Ren Zhengfei, in the month of June: it is expected to reduce U.S. sanctions of its revenue by about US $ 30 billion over the next two years, which eliminates the growth of giant network.

Explained the founder of the company at the time that its sales will remain stagnant at approximately US $ 100 million in the years 2019 and 2020, but the latest figures revenue growth for the third quarter is inconsistent with those previous statements.

The company said the smartphones, which accounted for more than half of its revenues, has seen an increase in global shipments increased by 26 percent year on year to 185 million units in the first three quarters, without providing numbers for the third quarter alone.

She explained Huawei it occurred more than 60 commercial contracts for networks of the fifth generation at the level of the world even now, adding that they formed alliances for companies and the rules of industrial innovation with a number of global partners to enable continuous innovation among telecom operators.

According to the company statement, it has helped Huawei to more than 700 cities to accelerate the digitization of government facilities and Public Utilities, Finance, Transport and electrical power, while nearly half of the 500 largest companies in the world use solutions Huawei’s smart to achieve digital transformation.

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