Huawei Defies Challenges: Revenue Increase Despite Profit Decline

The Chinese technology giant Huawei reports a remarkable revenue increase for the first nine months of the year but simultaneously has to accept a decline in net profit. The company recorded a 13.7% drop in net profit to 62.9 billion yuan (approximately 8.83 billion US dollars) compared to the same period last year. In contrast, revenue climbed by an impressive 133 billion yuan to a total of 585.9 billion yuan, according to a statement to the Shanghai Clearing House. The detailed breakdown of earnings by business unit was not disclosed in the publication; however, the company emphasized the strong performance of its core business in the consumer sector, which includes smartphones, PCs, and vehicle components. Huawei achieved particular success in the domestic market: According to data from IDC, the company recorded a 42% increase in smartphone sales in the third quarter. Following its re-entry into the 5G premium smartphone market with the Mate 60 series last year and the latest models of the P-series this year, the recently introduced Pura 70 model, which was presented on the same day as Apple’s iPhone 16, is also generating positive headlines.