Huawei announces Q3 2019 results with 24.4% revenue growth and 26% more smartphone shipments

On October 16, Huawei has announced its third-quarter results of 2019 showing a growing business with 24.4 percent year on year (YOY) growth on the face of the US trade ban.

Huawei’s revenue has rise to 610.8 billion yuan ($86.2 billion) with a net profit margin of 8.7 during the timeline.

The revenue figure is generated by a combined force of ICT, Carrier, Cloud, Consumer Busines, and other Enterprise solution businesses.

Huawei said its smartphone business has grown steadily and shipment in the first three quarters of 2019 exceeded 185 million units, representing a year-on-year increase of 26%.

The company also saw rapid growth in other new businesses like PCs, tablets, wearables, and smart audio products.

This is the second earning report coming under the shadow of US trade ban, which was imposed on Huawei in May due to allegation of security threat by its equipment. Huawei has repeatedly responded that the claims made by the US are completely false.

This company has estimated about $10 billion loss in annual revenue under the trade restrictions.

The US is also creating pressure on its allies to ban Huawei. However, most of its allies have ignored the requests made by the US and allowing the Chinese tech giant to do its business in the respective countries.