Huawei has recorded an increase in its revenue according to a report by Reuters. The Chinese tech giant saw its revenue rise to 165.29 billion yuan ($23.28 billion) in the third quarter ended September 30. It should be noted that the estimation was done by Reuters based on previous statements from Huawei.
The company said it has shipped 185 million smartphones so far this year. Based on the company’s previous statements and estimates from market research firm Strategy Analytics, that indicates a 29% surge in third-quarter smartphone shipments.
Still, growth in the third quarter slowed from the 39% increase the company reported in the first quarter. Huawei did not announce its financial result for the second quarter but did hint that revenue rose 23.2% in the first half of the year.
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“Our continued strong performance in Q3 shows our customers’ trust in Huawei, our technology and services, despite the actions and unfounded allegations against us by some national governments,” Huawei spokesman Joe Kelly told Reuters.
Huawei has been at the eye of the storm between the US and China. The U.S. government alleges Huawei is a national security risk as its equipment could be used by Beijing to spy and had placed it on an entity list that prevent US firms from selling technology to Huawei. Huawei has repeatedly denied its products pose a security threat. Of course, the firm’s shipment was affected by the US trade ban in the second quarter but promotions and patriotic purchases have driven Huawei’s smartphone sales in China. This is responsible for the increase in shipment and has helped it more than offset the slump in shipments in the global market. With this sort of push, projections of the tech giant falling behind Apple in shipments this year may end up incorrect.
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