Huawei Shows “Continued Growth” Despite US Ban
Huawei’s Q3 earnings report has been released and shows continued growth in terms of sales despite ongoing trade tensions with the US and the imposed Google ban on its devices.
These figures are attributed to the massive success in China of Huawei’s latest Mate 30 smartphone, which has driven the bulk of the growth.
However, despite being billed as Q3 financial results, the report actually provides only 2019 totals up through to September, which could mean that the actual Q3 numbers are as great as the company had hoped.
According to the state-backed Global Times, combined revenues for the Q1-Q3 2019 period shows that the Chinese tech giant grew 24.4% from the same period last year, totalling around $86 billion in sales.
In terms of smartphone shipments, Huawei sent out 185 million units through the first three quarters – a 26% year-over-year increase.
Despite no specific Q3 numbers being released, several publications, including Forbes, have crunched their own numbers and estimated that, based on Huawei’s Q1 and H1 results, the company actually sold about 67 million in the quarter.
Back in August, the company said that “while the impact of the US trade restrictions will be less than initially feared, the curbs could push its smartphone unit’s revenue lower by about $10 billion this year”.
This is the first time since the company had been put on the US Entity List that it has seen positive numbers with global smartphone shipments.