Huawei revenue grows 24.4% despite pressure from the US, Latest Business News - The New Paper

Huawei revenue grows 24.4% despite pressure from the US

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SHANGHAI : Chinese tech giant Huawei said yesterday its revenue for the first nine months of the year grew by almost a quarter despite a US campaign to isolate it globally.

Huawei's revenue jumped 24.4 per cent on-year to 610.8 billion yuan (S$118 billion) and its profit margin increased 8.7 per cent, it announced.

Huawei is the world's leading supplier of telecom networking equipment and the number two global smartphone vendor.

"Huawei has maintained its focus on (information and communications technology) infrastructure and smart devices, and continued to boost the efficiency and quality of its operations," a statement said. "This contributed to increased operational and organisational stability and solidified the company's performance in the first three quarters of 2019."

In August, Huawei unveiled HarmonyOS, its alternative operating system for phones and other smart devices, in the event US sanctions were imposed on the company.

But analysts say it will be hugely difficult for any new operating system to compete against phones that have the Android or iOS system, and without Android, Huawei may find it difficult to find buyers for its phones outside of China.

But, according to Huawei, there has been little impact on smartphone sales so far this year. It said shipments in the first three quarters surpassed 185 million units, up 26 per cent year-on-year.

Last year, it crossed US$100 billion (S$137 billion) in annual revenue for the first time. - AFP