Huawei sees surprising sales rise despite tighter US trade export controls

Huawei has once again achieved impressive results in sales revenue amid the US trade export controls. Despite several challenges, the company is marching towards new achievements and becoming self-reliant in every technological sector.

The tech giant recently published its Q3 2024 financial report through the Shanghai Clearing House channel. The overall growth of the company seems balanced with a slight decline in the net profit. It has dropped from $10.23 billion to $8.83 billion.

Speaking of the sales revenue, Huawei earned 585.9 billion yuan in the first three quarters of this year fighting aggressively with tighter US trade export controls.

The company’s sales increased by 16% YoY to $23.7 billion in September. A major credit for this high-fy progress goes to Mate 60 and Pura 70 which have resulted in surprising sales after their launch and are still seeking attention in the market.

US challenges

Since 2019, Huawei has been buried under US restrictions over trade exports. And the reason is well-known – security concerns. The US sees Huawei and other Chinese firms as a major threat to its residents’ privacy and military forces.

U.S. prohibited the company from accessing advanced chipmaking tools and other products that could help it build superior techs. It further tightened the export controls and listed Huawei’s partners and suppliers, blocking every way for the company.

Yet, Huawei amazed the world with the Mate 60 Pro smartphone last year that runs on a Kirin 9000s 5G chip. Products like the Pura 70 Ultra and the MateBook X Pro (Intel Core Ultra 9) are other devices that prove Huawei is back in the game.

Chip Issues

After building the new 5G chip under the SMIC foundry, Huawei came across another challenge – chip supply and faster production. The tight supply of chipsets made the company extend the stock refill time for the Mate 60 smartphones.

However, the company improved its supply chain before the launch of the Pura 70. As of now, the Kirin chip supply problem has been resolved to a significant extent.

Ren Zhengfei: Huawei is still struggling

During a recent ICPC contest, the Founder of Huawei – Ren Zhengfei said that the company is still struggling. He highlighted the chip problems and added:

“To this day, we cannot say that we can survive. 99% of Chinese companies can cooperate with the United States. They are not subject to sanctions. Their chip computing power is higher than ours, and the things they can buy are better than ours.”

Regardless of struggles, Huawei earned a good score in sales revenue. Not only smartphones but tablets, PCs, and even smart car solutions helped the company to achieve a new height in sales. And it seems this is just the beginning.

Huawei is ready to unveil the Mate 70 series this month with some other top-end products. The excitement for the upcoming flagship is already at its peak. Let’s see how the situation proceeds in the time ahead.

Huawei sees surprising sales rise despite tighter US trade export controls (Image Credits: Huawei)