BEIJING: Citing “intense external pressure” faced by the global supply chain system during the coronavirus pandemic, China’s Huawei Technologies Co Ltd reported a slowdown in revenue growth during the first nine months of the year on Friday.
Huawei, the leading global supplier of telecoms networking equipment and a top smartphone producer, grossed 671.3 billion yuan ($100.7 billion) in revenue in the January-September period, up 9.9 percent year-on-year, according to a statement on its website that did not provide a segment breakdown.
The figure was down from 24.4 percent growth over the same period last year.
The net profit margin for the nine months was 8.0 percent, versus 8.7 percent over the same period a year earlier.
“The business operation results in the first three quarters of 2020 were basically in line with expectations,” the firm said in the statement.
“As the world grapples with COVID-19, Huawei’s global supply chain system is also facing intense external pressure, which has brought many difficulties to our production and operations,” it noted.
The tech giant’s revenue in the first half rose by 13.1 percent year on year, with a net profit margin of 9.2 percent.
Huawei shipped 55.8 million devices in the April-June period, trumping Samsung and becoming the world’s top smartphone seller on robust domestic sales, according to data from research firm Canalys in July.
It vowed to “do its best to find solutions, to survive and forge ahead … and will continue to work closely with global partners to create value for customers, contribute to economic development and social progress, as well as the fight against the epidemic with innovative ICT technology.”
The U.S. ban on Huawei officially took effect last month, cutting it off from all suppliers whose products contain U.S. technology. –Agencies
