Hong Kong – Huawei Technologies Co, the world's largest telecommunications equipment manufacturer, said its revenue increased by 24.4% during the first nine months of the year despite US export listing.
The Chinese technological giant also said it launched 185 million smartphones during the nine-month period, an increase of 26% on a previous year. Huawei is the manufacturer of smartphones No. 2 in the world, not only Samsung Electronics Co..
Huawei, based in Shenzhen, was added to the list of entities of the Department of Commerce in May on grounds of national security. While the enlistment, which hinders companies sourcing technology from the US to export to Huawei without a license, prevented American technology to Huawei, the company is still able to purchase large quantities of goods purchased by American companies manufactured outside of the US. buy company. US
The company has also stated that it has inventories of State-sourced components, found alternative sources for other parts and is investing in proprietary chip technology to reduce its dependence on foreign technology.
While Huawei is privately owned, it reports unaudited financial updates during the year which give an insight into its business. Huawei's income for the first nine months of the year equates to 610.8 billion yuan ($ 86.2 billion). Huawei did not disclose its net income for the nine months ending September 30, but stated that its net profit margin was 8.7%.
Huawei also did not disclose its results for the third quarter – the first full three-month period for which the company was subject to listing of US entities. However, calculations based on the company's performance during the first half of the year show that Huawei's third quarter income was 209.5 billion yuan ($ 29.6 billion).
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