Yesterday, Huawei announced its Q3 business results, and it doesn’t look like the US trade ban has been all that bad for business. The Shenzhen-based company reported an impressive 24.4% increase over last year’s earnings through Q3.
We already knew Huawei was doing pretty well despite its addition to the US entity list. But with yearly revenue of CNY610.8 billion (~$86.1 billion) and a net profit of 8.7%, we get a better idea of just how well the company is doing, even if we don’t get the whole picture in this report.
Despite the fact its latest flagship, the Mate 30 Pro, launched without Google services, the company’s all-around phone sales don’t appear to be hurting. Huawei shipped more than 185 million smartphones in the first three quarters of this year, which is a 26% year-on-year increase.
We aren’t exactly sure how many of those sales came from Q3 alone since Huawei didn’t release Q3 exclusive sales stats. Android Central speculates the company shipped 67 million units this quarter compared to the stagnant 59 million shipped the last two, but that can’t be confirmed. Huawei did not respond when we reached out to ask for the Q3 specific smartphone shipment figures.
According to the report, it also continues to lead 5G deployment around the globe, having signed 60 5G commercial contracts and shipped more than 400,000 5G Massive MIMO active antenna units.
The company also launched its Horizon Digital Platform this year. To date, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies partnered with Huawei to take advantage of this enterprise digital transformation solution.
Huawei’s Q3 results are nothing to scoff at, even if the lack of Q3 specific statistics paints a skewed picture. Regardless, Huawei has proven that it means business, and we don’t expect that to change anytime soon.