Huawei Revenues Surged in Q3

Ruben Fields
October 17, 2019

Germany will allow Huawei access to its 5G networks despite a US pressure campaign, spearheaded by FCC chairman Ajit Pai, to block the Chinese tech giant from interacting with allies' data networks.

Huawei's revenues jumped to 610.8 billion yuan ($86.2 billion) and its profit margin grew 8.7 percent, the company announced.

The Trump administration accused Huawei in May of being a national security risk and imposed curbs on its access to US technology and components including Google's smartphone services.

In May 2019, Washington said it would blacklist Huawei from the USA market and from buying crucial American components, though it has twice extended the company 90-day reprieves, the latest coming in August.

Still, growth in the third quarter slowed from the 39 per cent increase the company reported in the first quarter.

The decision comes after heavy pressure from the U.S.to urge worldwide allies to resist partnerships with Huawei over fears of espionage, fraud, and intellectual property theft.

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The US has ramped up pressure on Huawei in recent months, blacklisting the company from doing business with American firms.

But analysts say it will be hugely hard for any new operating system to compete against phones that have Android or its rival, Apple's iOS system.

The announcement confirmed a report by German business newspaper Handelsblatt, which stated that a review of the current draft of security requirements permits Huawei to provide 5G services in Germany.

It shipped more than 185 million smartphones in the same time, up 26% year-on-year, a company statement said. But the impact of trade restrictions on the company's earnings is not expected to be fully felt until the end of the year.

In July the vendor said that it faces "difficulties ahead" as result of its tussle with America and the US-China trade war, estimating that the political unrest could cost it around $30m in annual revenue.

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