The revenue of China-headquartered telecoms manufacturer Huawei increased in the first nine months of the year even as it battled US trade sanctions and market disruptions caused by COVID-19.
The company reported a 9.9 percent increase in revenue to $98.57 billion. In the same period, its net profit margin was 8 percent. Earnings, however, were down compared to the January-September period of the previous year, when sales increased by 24.4% annually.
“As the world grapples with COVID-19, Huawei’s global supply chain is being put under intense pressure and its production and operations face significant challenges,” Huawei said in a statement.
In the future, Huawei will optimize its ICT (Information and Communication Technologies) strengths such as AI, cloud, 5 G, and computing to provide scenario-based solutions, build industry applications, and unleash the potential of 5G networks together with its partners, it added.
While announcing its results, Huawei did not make any reference to the US trade restrictions. The net income and the results breakdown for its various divisions, such as smartphone sales or the 5G equipment business, were not disclosed.
The company recently unveiled its newest flagship Mate 40 smartphone line-up, promising a powerful new 5G chip as it seeks to compete with the iPhone 12 series from Apple and the Note20 and S20 series from Samsung.
The latest versions are the entry-level Mate 40 (starting from $1,063), the Mate 40 Pro belonging to the mid-range ($1,418) and the top-end Mate 40 Pro+ ($1,654).
The Mate 40 comes with a 16.5-centimeter display and has a 4,200-milliampere-hour battery. In contrast, the Mate 40 Pro and Mate 40 Pro+ have a 17.2 cm screen and are powered by a 4,400 mAh battery. With 8 GB to 12 GB RAM and 128 GB to 256 GB internal space, the new phones offer huge storage capacity.
“Each year, the Huawei Mate series brings the most exciting technology together into one stunning package, this is what defines its DNA and is all made possible by our dedication to innovation. In these unprecedented times, we remain committed to creating a better future, with innovative technology that delivers a positive and meaningful impact on the lives of [the] consumers.”
Huawei has launched new apps that are accessible to consumers worldwide in order to serve its customers better. They include Petal Search, which will support multiple kinds of searches. Petal Maps use gesture control while Huawei Docs will be a unified word document service.
Since May of 2019, the Chinese company has been under fire from the Trump administration in the United States, resulting in what is usually referred to as the “Huawei ban.” The conflict has even forced Huawei to change its business plans as the company and its technologies faced pressure in some European countries too.