Huawei's profit is up by 24.4 percent in Q3 2019

In Shenzhen, China, Huawei announced today announced its business results for Q3 2019.

File photo: A Huawei store in Shenzhen, China

Better numbers, as expected

Despite the US sanctions, Huawei is still on the rise as the company generated CNY 610.8 billion in revenue equivalent to an increase of 24.4 percent YoY (year-on-year). Huawei also revealed that it posted a net profit margin of 8.7 percent in this period.

According to the company, to boost the efficiency and quality of operations, it maintained its focus on ICT infrastructure and smart devices.

To date, Huawei has signed more than 60 commercial 5G contracts to leading carriers and shipped more than 400,000 5G Massive MIMO active antenna units (AAUs) to global markets.

On the cloud service, the company has 112 new services powered by Kunpeng and Ascend processors, and Industrial Intelligent Twins.

For its smartphone shipments, the company exceeded 185 million units mark or a YoY increase of 26 percent. Huawei also claimed that the company also saw rapid growth in other new businesses like PCs, tablets, wearables, and smart audio products.

To read Huawei's full statement, read here.

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