Huawei maintained sales growth in the third quarter, despite the US ban on doing business with the company. The company reported revenues for the first nine months of 2019 up 24.4 percent year-on-year to CNY 610.8 billion, a small improvement from the 23.2 percent growth in the first half of 2019.
Huawei said its net profit margin in the period was 8.7 percent, the same as in H1. Further financial results were not disclosed. The company said it continued to improve the efficiency and quality of its operations, leading to greater operational and organizational stability and the solid performance in the first three quarters of 2019.
Smartphone shipments up 26%
Shipments of Huaweri smartphones also accelerated slightly. The company said it shipped over 185 million units in the nine months, up 26 percent from a year earlier. Shipments in H1 rose 24 percent on an annual basis to 118 million. The company said it also saw rapid growth in other new businesses like PCs, tablets, wearables and smart audio products.
In the carrier business, commercial deployment of 5G networks around the world sped up, Huawei said. To date, Huawei has signed more than 60 commercial contracts for 5G with carriers, up from 50 contracts at mid-year, and shipped more than 400,000 5G Massive MIMO active antenna units to global markets.
