Chinese tech giant Huawei, one of the biggest makers of smartphones and switching equipment, said Friday its revenue rose 9.9% in the first nine months of this year, but growth decelerated in the face of U.S. sanctions and the coronavirus pandemic, reports AP.
Huawei Technologies Ltd. gave no sales figure for the most recent quarter ending in September, but growth for the first three quarters was down from the 13.1% reported for the first half of the year.
On Thursday, the company unveiled its latest smartphone, the Mate 40, based on Kirin 9000 chips developed by Huawei.
Sales in the first nine months of 2020 rose to 671.3 billion yuan ($100.4 billion), Huawei reported. It said net profit was 8%, down from the first half’s 9.2% margin.
The company gave no details of its smartphone shipments. Sales outside China have weakened because its handsets no longer come preloaded with Google’s popular music, maps and other features. But sales in China, where Huawei phones already used local alternatives, have grown sharply.
Huawei’s global market share in smartphones rose to 19.6% in the three months ending in June, up from 17.7% a year earlier, according to Canalys. That was driven by strength in its home market, where Huawei had a 51% market share and sales rose 32% to 14.5 million handsets.
Huawei is owned by its Chinese employees who make up about 60% of its global workforce of 194,000. It began reporting financial results a decade ago in an attempt to appear more transparent and mollify foreign security fears.
