Huawei Q3 revenue growth defies difficult year

October 21, 2019 5:46 am0 comments
Huawei Technologies founder Ren Zhengfei

Huawei Technologies founder Ren Zhengfei

by SAVIOUS KWINIKA
JOHANNESBURG – HUAWEI has registered a 24,4 percent growth year-on-year in revenues to CNY610,8 billion ($86 billion) in the first three quarters of this year.

The company’s net profit margin in this period was 8,7 percent as it defied a difficult year following restrictions in the United States in the middle of the year.

In the consumer section, Huawei’s smartphone shipments in the first three quarters of 2019 exceeded 185 million units, representing a year-on-year increase of 26 percent.

To date, Huawei disclosed it had signed more than 60 commercial contracts for 5G with leading global carriers and shipped more than 400 000 5G Massive MIMO active antenna units (AAUs) to global markets.

The production and supply of Huawei’s optical transmission, data communications, and IT products grew steadily.

By the end of Q3 2019, the company stated more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies had selected Huawei as their partner for digital transformation.

The Huawei Mobile Services ecosystem has also developed rapidly, covering more than 170 countries and regions. It has attracted over 1,07 million registered developers worldwide, according to the Chinese firm.

Meanwhile, Huawei last Wednesday launched its latest wearable, the Huawei Watch G2.

It said this proved its unwavering commitment to revolutionise the wearable technologies industry.

The device is said to be accompanied by some of the latest technological advancements, providing consumers with an unrivalled user experience and extended battery life.

The Huawei Watch GT2 boasts a variety of different sport modes with insightful programmes, Bluetooth calling and music playback functionalities, ultimately enhancing comprehensive health and fitness monitoring and management capabilities.

It is also Huawei’s first multi-sports device with an integrated 3D glass screen, creating an almost unlimited display.

– CAJ News

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