Huawei published business report for the first three quarters of 2021

On 29th October Huawei published its business evaluation report for the first three quarters of 2021. Although the market performance isn’t that great, Huawei’s Rotating Chairman Guo Ping expressed his gratitude to the customers as well as partners. Until now, the Chinese tech firm has earned CNY455.8 billion while its net profit remains 10.2%. However, this matter isn’t close here as the company still has the last quarter.

The company’s B2C business was the main reason for this poor performance, which is almost cracked down in the US. Meanwhile, its 2B businesses remain even during this time.

During the business report release, Huawei Chairman further stated, the company is confident in our R&D, talent acquisition, and precise operating efficiency to soon regain its market. In addition, the company continues to build effective content and products for its consumers as well as the industry.

Also Read: Huawei will invest 35 Million Euros to find European Talent for Telecom

Furthermore, the company hasn’t forgotten the partners and customers who show their trust in the company in its critical conditions. the company is determined to collaborate with more ecological partners and move forward towards an intelligent world.

Though the company has expected market performance, it’ll take time to recover from the loss. Besides, its smartphone market is being covered by other firms including Vivo, OPPO, Honor, and Xiaomi.

Recently Counterpoint released the Q3 2021 smartphone sales report that brought us the latest insights.

Counterpoint Smartphone Market Report:

According to the Counterpoint smartphone sales report for Q3 2021, Huawei recorded an annual market decline of 77%. Still, the company successfully gained 13% of the market shares in the third quarter.

The report also shows, that 5G was on-demand, and Huawei is still working to fulfill this requirement of the users. Thereby it’s counted as one of the lackings of the company. However, there were many factors including US-Sanction and chip shortages that lead the company towards the loss.