Observer Report
Islamabad
Huawei Technologies Company posted steady revenue growth during the first three quarters of this year on the back of its robust Smartphone business, as the tech giant seemed to have shrugged off much of the impact from US restrictions.
During the first nine months of this year, the Firm generated revenue of 610.8 billion Yuan ($86 billion), up 24.4% year-on-year. “The overall revenue is steadily growing and it is fair to say that the current trade uncertainty has not affected Co’s growth,” said Xiang Ligang, Director General of the Information Consumption Alliance, a Telecom Industry Association.
Ding Yun, President of Huawei’s carrier business group, which supplies telecom equipment and solutions to global carriers, said, “We have seen the fastest growth in areas where we were hit the hardest.” The firm has signed more than 60 commercial contracts for 5G with leading global carriers. The Firm’s carrier business saw faster growth in the third quarter than the second as well as that of last year.
Yang Chaobin, President of Huawei’s 5G product unit, said the Company has so far shipped more than 400,000 units of 5G active antennas, a type of modem used in 5G base stations. About 300,000 units have been shipped after the US imposed restrictions in May. Some of these modems don’t include US components and their performance is as good as those which include US components.
In May this year, the US government put the Chinese giant on the “Entity List” and barred it from buying US technologies without special government approval. Despite some worries that the ban may have a big impact on its Smartphone business, more than 185 million Huawei Smartphones were shipped in the first three quarters of this year, up 26 percent year-on-year.
