Huawei device business decline continue to slow down, which is a good sign

Today, Huawei announced the first three-quarters results of 2022 and the Chiense tech has revealed that to slow down the year-long decline in its core business created by U.S. sanctions.

Huawei revealed that the company has generated CNY 445.8 billion yuan (61 billion USD) in revenue and a profit margin of 6.1 %. This is quite less as compared to last year’s double-digit growth. However, the revenue rose in the September quarter.

“Overall performance was in line with forecast,” said Eric Xu, Huawei’s Rotating Chairman. “The decline in Huawei device business continued to slow down, and our ICT infrastructure business maintained steady growth. Going forward, we will keep bringing in top-notch talent and investing in R&D to take the competitiveness of our products to a new level. We will keep creating value for our customers and society.”

U.S Sanctions:

In May 2019, Huawei was included in the U.S. Entity List, which prohibits this Telecom giant from accessing key technologies to build its smartphones, consumer devices, as well as Telecom devices.

Later revised restrictions in 2020 caused further damage to the company when TSMC has been banned from printing HiSilicon chipsets. This is created major havoc on Huawei’s supply chain as well as its mobile business, as it has to quit on Kirin mobile chips.

Still, the latest development is a sign of hope, and the slow down in decline means a lot to for Huawei.