CNBC's calculations of Huawei's reported figures revealed a 1% rise in the third quarter compared to the same timeframe last year. The tech giant launched a new smartphone for the period ending in September, and this resulted in increased sales in China; in contrast, Apple reported their sales had diminished, according to Counterpoint Research. Huawei announced that their revenue for the first three quarters of 2020 was 456.6 billion yuan - the greatest amount since 2020 - increasing by 2.4%.
Huawei reported a 1% increase in revenue for the third quarter from the previous year, despite the launch of a highly popular new smartphone in late August and increasing sales in the electric car sector. The company's revenue for the first three quarters of the year rose by 2.4% year-on-year to 456.6 billion yuan ($62.33 billion), the highest for the period since 2020, in spite of the US sanctions the Chinese telco maker has been facing since 2019. Reviews of the new Mate 60 Pro smartphone suggest that it is capable of offering 5G download speeds, thanks to its advanced semiconductor chip.
Huawei stealthily debuted the phone in China in the latter part of August, declining to offer more information during a seasonal product launch gathering in late September.Counterpoint Research reported that the Mate 60 lineup sold more than 1.6 million devices within the first six weeks.The research firm figured that the majority, around 75%, of sales were Pro models, approximately 1.2 million units.Apple unveiled the iPhone 15 in September and is predicted to sell 10 million units this year in China.Reports from Shanghai-based CINNO Research determined that the total iPhone orders this year in China will be about 45.5 million.
U.S. company smartphone sales experienced a decrease of 10% from one year prior according to a report by Counterpoint Research revealed on Thursday. Concurrently, Huawei reported an upswing of 37%.
Huawei has grown to become a significant part of China's swiftly expanding new energy vehicle market, which encompasses hybrid and battery-powered cars. The organization offers its operating system and components, such as for driver-assist technologies, to vehicle makers. In December 2021, Huawei unveiled its own car brand Aito in association with maker Seres. As of October 16, orders for Aito's M7 model had added up to 60,000, merely a month after its debut, as per a social media statement from Richard Yu, who is in charge of Huawei's car-related and consumer business. On Wednesday, Aito revealed that pre-orders for its forthcoming M9 SUV had surpassed 15,000.
Huawei, which is not publicly traded, did not disclose the revenue split between its business segments in its latest reporting. The Chinese telecommunications giant reported partial gains from particular sales, but was not more specific. Its declared net profit margin for the first three quarters of the year was 16%, which was higher than the 15% from the first half of the year when revenue increased 3.1% to 310.9 billion yuan. Based on CNBC's calculations of Huawei's numbers, third-quarter revenue was 145.7 billion yuan, a 1% rise year-over-year. The company continued its 5G-related patent licensing deals with Xiaomi and Ericsson in the third quarter. Huawei also rolled out 5G-based technologies for mining, ports and manufacturing, but it was not specified how much income, if any, they brought in. Moreover, the firm broadened its cloud business to Saudi Arabia in September. This past week, Huawei announced the opening of a research lab in Finland to examine health and fitness wearables. The U.S. has been vocal about the alleged risk Huawei poses to national security, due to supposed ties to the Chinese Communist Party and military. Huawei has denied there is any such danger. Arjun Kharpal from CNBC contributed to this report.
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