Chinese telecom giant Huawei released their third quarter business update on October 16. The company generated 610.8 billion yuan (~$86 billion) in revenue, an increase of 24.4% year-on-year, while net profit margin during this period was 8.7%.
Huawei said that it maintained its focus on ICT infrastructure and smart devices, as they have signed more than 60 commercial contracts for 5G worldwide and shipped more than 400,000 5G Massive MIMO active antenna units (AAUs) to global markets.
Concerning their enterprise business segment, Huawei launched the Huawei Horizon Digital Platform, a platform that aims to work with customers and partners to build a foundation for the digital world, creating a digital transformation industry “worth trillions of US dollars”. This platform intends to enhance the digital competencies of various sectors including government, public utilities, finance, transportation, and electricity. By the end of the third quarter, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies selected Huawei as their partner for digital transformation.
Additionally, Huawei announced its computing strategy and released Atlas 900 this quarter. The company claims that Atlas 900 is “the world’s fastest AI training cluster”. Huawei has also made progress in their cloud business, as three million enterprise users and developers have used HUAWEI CLOUD to develop products and solutions.
In terms of Huawei’s smartphone segment, shipments in the first three quarters of 2019 exceeded 185 million units, representing a year-on-year increase of 26%. Meanwhile, Huawei Mobile Services ecosystem is now covering more than 170 countries and regions, with over 1.07 million registered developers worldwide.