Huawei posts 10 percent revenue growth in first nine months
Huawei Technologies posted revenue growth of 10 percent in the first nine months despite facing strict sanctions abroad, the tech giant said on Friday.
Huawei generated 671.3 billion yuan (US$100 billion) in revenue in the three quarters, an increase of 9.9 percent over the same period last year. The company's net profit margin during the period was 8 percent. These results “basically met expectations,” Huawei said in a statement.
“Huawei will leverage its strengths in ICT technologies such as AI, cloud, 5G and computing to provide scenario-based solutions, develop industry applications and unleash the value of 5G networks,” the company said.
It also admitted that Huawei's global supply chain is under intense pressure and its production and operations face significant challenges. Still, the company says it's trying to find solutions to “survive and forge forward.”
Huawei also launched its new flagship Mate model on Thursday as it continues to develop smartphones and other consumer products.
Huawei has been forced to stop producing Kirin chips for smartphones since September 15.