Huawei appears to be weathering US sanctions after posting steady growth in sales and in new contracts for its 5G mobile technology, but the Chinese telecoms group still faces the challenge of selling smartphones without Google apps.
The company said on Wednesday its revenues had grown to Rmb610.8bn ($86bn) in the first three quarters of this year, while its profit margin held steady at 8.7 per cent. In the third quarter, sales rose 27 per cent year on year.
But analysts say the company faces the challenge of a tough fourth quarter, with stiff competition from Apple in its smartphone division, especially as Huawei’s own flagship phones have been denied access to Google’s suite of apps by US sanctions.
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