Huawei generates CNY610.8bn in revenue for third quarter of 2019
Company’s net profit margin 8.7% in Q3 2019
KUWAIT: Huawei yesterday announced its business results for the third quarter of 2019. During the first three quarters of this year, Huawei generated CNY610.8 billion in revenue, an increase of 24.4 percent year-on-year. The company’s net profit margin in this period was 8.7 percent.
Huawei has maintained its focus on ICT infrastructure and smart devices, and continued to boost the efficiency and quality of its operations. This contributed to increased operational and organizational stability and solidified the company’s performance in the first three quarters of 2019.
In the carrier business, commercial deployment of 5G networks around the world has sped up. Huawei has continued to launch innovative solutions with leading carriers like 5G Super Uplink, smart & simplified transport networks. The company has also worked with industry partners to establish an industry alliance and an industry innovation base for 5G deterministic networking to enable the innovation and growth of carriers.
To date, Huawei has signed more than 60 commercial contracts for 5G with leading global carriers and shipped more than 400,000 5G Massive MIMO active antenna units (AAUs) to global markets. The production and supply of Huawei’s optical transmission, data communications, and IT products grew steadily. In the enterprise business, the company launched the Huawei Horizon Digital Platform. This converged, open, and efficient platform was built on Huawei’s extensive technological experience. With it, Huawei aims to work with customers and partners to build a foundation for the digital world, creating a digital transformation industry worth trillions of US dollars. This platform will also help various sectors like government, public utilities, finance, transportation, and electricity to speed up their digital transformation.
By the end of Q3 2019, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies had selected Huawei as their partner for digital transformation.
Huawei’s cloud service development has been accelerating. In Q3, Huawei announced its computing strategy and released Atlas 900, the world’s fastest AI training cluster. Other innovative products the company has launched include the Huawei Cloud Ascend AI cluster services, 112 new services powered by Kunpeng and Ascend processors, and Industrial Intelligent Twins. These products achieved major breakthroughs in government, Internet service provider (ISP), automotive, finance, and many other industries. Three million enterprise users and developers have used Huawei Cloud to develop products and solutions.
In the consumer business, Huawei’s smartphone business has grown steadily. Huawei’s smartphone shipments in the first three quarters of 2019 exceeded 185 million units, representing a year-on-year increase of 26 percent. The company also saw rapid growth in other new businesses like PCs, tablets, wearables, and smart audio products. The Vision smart screen, featuring unique innovations in software and hardware, was also launched in Q3, gaining high acclaim from the industry and consumers. A more robust ecosystem that focuses on consumers and delivers a more seamless intelligent experience across all major user scenarios is now taking shape.
The Huawei Mobile Services ecosystem has also developed rapidly, covering more than 170 countries and regions. It has attracted over 1.07 million registered developers worldwide. The financial data disclosed here are unaudited figures compiled in compliance with the International Financial Reporting Standard. Converted into United States dollars (“USD”) using the market rate at the end of September 2019, USD1.00 = CNY7.1292.