ZCZC
BCN-24
CHINA-US-TELECOM-EARNINGS-HUAWEI
Huawei says nine-month revenue up despite US pressure
SHANGHAI, Oct 16, 2019 (BSS/AFP) – Chinese tech giant Huawei said on
Wednesday that its revenue for the first nine months of the year grew 24.4
percent year-on-year despite a US campaign to isolate the company globally.
Huawei’s revenues jumped to 610.8 billion yuan ($86.2 billion) and its
profit margin grew 8.7 percent, the company announced.
The firm has been under immense pressure this year as Washington lobbied
allies worldwide to avoid the company’s telecom gear over security concerns,
and in May blacklisted it from both the US market and buying crucial US
components.
The United States has expressed concerns that Huawei equipment could
contain security loopholes that allow China to spy on global communications
traffic.
The company has repeatedly denied the accusation.
“Huawei has maintained its focus on ICT infrastructure and smart devices,
and continued to boost the efficiency and quality of its operations,” a
company statement said.
“This contributed to increased operational and organisational stability
and solidified the company’s performance in the first three quarters of
2019.”
BSS/AFP/HR/1330