Huawei continues to come up with all the right numbers.
Despite a United States campaign to isolate China’s high-tech giant, it announced on Wednesday that revenue for the first nine months of the year surged 24.4% compared to the same period in 2018.
The privately-owned smartphone and 5G infrastructure company reported that profits jumped by 8.7%, without revealing further details, while revenue topped 610.8 billion yuan (US$86.2 billion).
Huawei has been under immense pressure after Washington lobbied allies worldwide to avoid the firms’ telecom equipment over security concerns.
In May, the company was blacklisted from both the US market and buying crucial American components because of security issues, such as backdoor spying. Huawei has repeatedly denied the accusation.
“[The group] has maintained its focus on ICT infrastructure and smart devices, and continued to boost the efficiency and quality of its operations,” a company statement said.
“This contributed to increased operational and organizational stability and solidified the company’s performance in the first three quarters of 2019.”
The big winners, of course, have been its thriving smartphone business and 5G operation. Also, half of the 65 commercial deals that Huawei has signed are with European customers building ultra-fast networks.
“This shows European customers’ long-term and consistent trust in Huawei – we are really grateful for their trust in this difficult time,” Yang Chaobin, the head of Huawei’s 5G business, told the Reuters news agency in Zurich.
The contrast could not be more striking between industry enthusiasm for Huawei’s products and the US allegations.
“From a technical perspective, security is something we can solve,” Yang told a news briefing in the Swiss city. “But if you look at security as a political issue, and judging the security of a vendor based on its origin, then it’s very difficult to solve.”
Up to three-quarters of the 400,000 5G base stations that Huawei has sold have been signed off after the Washington ban.
“The entity listing has had no impact on Huawei’s 5G equipment whatsoever,” Yang said. “The performance and specification of the products with our own components will only be better.”