Huawei, a multinational technology company dealing in telecommunications equipment and sells consumer electronics, including smartphones, has released its revenue report for Q3 2019 today. It is a leading smartphone brand that surpassed Apple in Q2 2018 and ranked in 2nd position after Samsung.
In May 2019 the company faced enormous challenges when Mr. Donald Trump declared a ‘national emergency’ that banned Huawei’s telecom equipment in the USA. At that time, Huawei chief Ren Zhengfei stated his company is likely to suffer a big shock by this decision and would take approximately $30 billion hits in the next two years.
Many critics reported the step to slow down the advancement of Huawei in 5G technology and provide extra time for US companies to catch-up. 5G is going to define the internet for the next decade.
Huawei’s comeback with a boom!
However, earlier predictions that anticipated a marked downfall proved wrong by Huawei’s third-quarter revenue stats, i.e., increased by 24.4% as compared to the Q3’s sales of last year. The company’s net profit margin in this period was 8.7%.
The sales of smartphone have skyrocketed. The company claims it has shipped more than 185 million smartphones in the first three quarters of 2019, which is 26% up to as compared to 2018. Yes, the company had a tough time, and growth was slowed down by 13% in Q2 of 2019. But, later on, the company succeeded in increasing its revenue despite US sanctions.
Huawei closed 60 5G deals
Huawei also announced that it had signed 60 5G contracts with word leading telecom carriers to provide equipment for 5G networks worldwide. It seems that the company has kept an eye on the future. It is doing so well despite all the challenges the company faced because of America’s economic war. In addition, it has over 400,000 5G Massive MIMO AAUs globally.
READ: Germany will not bar Huawei from its 5G networks (BBC)
Well, it is crucial to quote Huawei chairman Liang Hua words here:
“[it’s] not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term.”
By the end of Q3 2019, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies had selected Huawei as their partner for digital transformation.
“[it’s] not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term.” －Liang HuaHuawei’s Chairmain Liang Hua quotted
Huawei Cloud services
Huawei’s cloud service development has been accelerating. In Q3, Huawei announced its computing strategy and released Atlas 900, the world’s fastest AI training cluster. Other innovative products the company has launched include the HUAWEI CLOUD Ascend AI cluster services, 112 new services powered by Kunpeng and Ascend processors, and Industrial Intelligent Twins. These products achieved major breakthroughs in government, Internet service provider (ISP), automotive, finance, and many other industries. Three million enterprise users and developers have used HUAWEI CLOUD to develop products and solutions, reported by Huawei.
Huawei has still to do a lot to overcome the challenges in Q4 2019 faced by the recent release of iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max by Apple.
Do you see Huawei as a leading future smartphone brand? Kindly let us know in the comment section below.
Featured image: Intersystems