Huawei says nine-month revenue up despite US pressure

Huawei says nine-month revenue up despite US pressure”

In addition, Huawei signed more than 60 commercial contracts to provide 5G networking equipment to carriers around the world, like Malaysian telecom Maxis, it noted. On that note, Huawei has experienced some victories since the ban.

Asked recently about the hit to Huawei's business this year, company founder Ren Zhengfei said he reckoned Washington's sanctions would knock about $10 billion off revenue.

Chinese tech giant Huawei said on Wednesday (Oct 16) that its revenue for the first nine months of the year grew 24.4 per cent year-on-year despite a United States campaign to isolate the company globally.

Revenue in the quarter ended September 30 rose to 165.29 billion yuan ($23.28 billion) according to Reuters calculations based on previous statements from Huawei.

Huawei says that it has shipped about 185 million smartphones so far in 2019. It is also the first time Huawei is seeing growing smartphone shipments since it was put on the US Entity List. Based on the company's previous statements and estimates from market research firm Strategy Analytics, that indicates a 29 per cent surge in third-quarter smartphone shipments.

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Washington has delayed enforcement and suggested it might allow sales of some USA technology. The company has repeatedly denied the accusation.

The U.S. blacklist could prevent Huawei from getting hold of key hardware and software including smartphone chips, and exclude it from the Google Android operating system, which equips the vast majority of smartphones in the world, including those of Huawei.

It had reported a 23.2% rise in first-half revenue in July.

It is also developing its own mobile operating system as the curbs cut its access to Google's Android operating system, though analysts are skeptical that Huawei's Harmony system is yet a viable alternative.

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