Huawei’s revenue rises 24.4% in first three quarters of 2019

SHENZHEN: Huawei Technologies Co Ltd, the Chinese technology giant blacklisted by the U.S. government, said revenue grew 24.4 percent in the first three quarters of 2019 to 610.8 billion yuan ($86 billion).

It shipped more than 185 million smartphones in the same period, up 26% year-on-year, a company statement said. It did not provide figures for the third quarter alone.

The company said in August that while the impact of U.S. trade restrictions will be less than initially feared, the curbs could push its smartphone unit’s revenue lower by about $10 billion this year.

Huawei is the world’s biggest maker of telecom network equipment and the second-largest smartphone maker.

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Huawei reported a 23.2% rise in first-half revenue in July.

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