Saturday, 24 October 2020 07:40

Huawei says revenue grew nearly 10% in first three quarters Featured

Huawei says revenue grew nearly 10% in first three quarters Image by aroblesgalit from Pixabay

Chinese telecommunications equipment vendor Huawei Technologies has seen revenue of 671.3 billion yuan (A$140.6 billion) in the first nine months of 2020, the company says, adding that this was an increase of 9.9% over the corresponding period in 2019.

In a statement, Huawei, a private company, said its net profit margin was 8.0%, adding that these results were in keeping with expectations. For the first nine months of 2019, the profit margin was 8.7%.

There were no separate figures for the third quarter. The company's smartphone shipments overtook those of South Korean rival Samsung globally in the second quarter.

The earnings announcement comes a day after the company launched its latest flagship smartphone, the Huawei Mate 40, based on its own designed processor, the Kirin 9000.

Huawei has been hit with US sanctions since May last year and has been unable to use Google's Android mobile operating system with its proprietary apps on its smartphones.

Thus, four models have been released with the open source version of Android, one which lacks Maps, YouTube, Drive and Gmail. This would have affected sales, though there are no figures to bear it out.

Huawei smartphones have excellent hardware but with the Google apps, few outside China will buy the devices.

As a result, Huawei has been squeezed both by other brands like Samsung and Apple, and also Chinese companies like OPPO and Xiaomi; the competition between Chinese companies is fierce.

Despite this, Huawei has grown its market share at home and this, in the main, has kept it going. On the international front, it has managed several wins in the 5G market, despite all the negative publicity put out by the US and some of its allies.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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