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Huawei reports 9.9% rise in first three quarters' revenue

By Ma Si | chinadaily.com.cn | Updated: 2020-10-23 14:20

Yu Chengdong, CEO of Huawei's consumer business group, unveiled the company's Mate 40 series 5G smartphones. [Photo provided to chinadaily.com.cn]

Huawei Technologies Co said on Friday that it recorded 671.3 billion yuan ($98.7 billion) in revenue in the first three quarters of this year, marking an increase of 9.9 percent over the same period last year despite the US government's intensified crackdown on the company.

Huawei said its net profit margin in this period was 8.0 percent, and its business results basically met expectations.

"As the world grapples with COVID-19, Huawei's global supply chain is under intense pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfill its obligations to customers and suppliers," Huawei said in a statement.

The company added that information communications technology, or ICT, has become a cornerstone of modern society and the main driver behind sustainable social, economic, and environmental development.

"Huawei believes that rapid and healthy development within the ICT industry will rely on open collaboration and mutual trust across the global industry, so it will continue working closely with its global partners and using its innovative ICT technologies to create greater value for customers despite the complex situation it is currently facing. The company will continue contributing to pandemic responses, economic growth, and social progress," the company added.

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