This archive report was first published on 16 October 2019.
On October 16, 2019, Huawei Technologies released its Q3 earnings results, revealing a 24% revenue growth in the first nine months of 2019, despite the US ban on doing business with American companies.
Although the company was granted a 90-day reprieve in August 2019, it will lose access to some technology next month, meaning it can only sell smartphones launched before the ban.
Despite these challenges, Huawei's combined revenues for the Q1-Q3 period reached $86.1 billion, a 24.4% increase from the same period last year.
Global smartphone shipments also jumped up by 26% in the first three quarters to over 185 million units, solidifying Huawei's position as the world's second-largest name in mobile devices.
However, Huawei did not provide explicit data for smartphone shipments in Q3 2019 alone, but estimates suggest the Q3 shipments should come in at around 67 million units, a 13.5% increase compared to Q2 2019.
Washington's warnings have failed to block Huawei's drive to remain a powerhouse supplier as telecom carriers around the world upgrade their networks to the next generation of wireless technology, or 5G.
According to Huawei's Q3 results, the company has secured more than 60 commercial contracts with carriers across the world for its 5G network, up from 50 a few months ago.
Additionally, more than 700 cities and 220 Fortune 500 companies have partnered with Huawei for its Horizon Digital Platform.
