Huawei reports $62 bn revenue in 9 months

Huawei said it generated CNY445.8 billion ($62.03 billion) in revenue for the first three quarters of 2022. The profit margin of Huawei’s main business was 6.1 percent.
Huawei Harmony OSHuawei’s revenue during January-September was 10 billion yuan less than it saw in the same period a year earlier, Reuters news report said.

“Overall performance was in line with forecast,” said Eric Xu, Huawei’s Rotating Chairman. “The decline in our device business continued to slow down, and our ICT infrastructure business maintained steady growth.”

Huawei did not reveal the specific revenue from its three business divisions: telecom network, smartphone and enterprise.

The United States placed Huawei on an export blacklist in 2019, banning the telecom giant from buying components and technology from U.S. companies without U.S. government approval.

The move largely impacted Huawei’s smartphone business, which commanded 42 percent of the China market in 2019.