Huawei’s revenue in the third quarter of 2021 is 38% lower than the same period last year. Experts say the main reason for this is US sanctions and the emergence of other businesses in which Huawei has just started.
According to reports Reuters, Huawei had revenue of $ 71.31 billion in the first three quarters of this year, of which 10.2% was net profit. The company’s revenue in the third quarter of 2021 alone was about $ 21.1 billion. Guo Ping, Huawei’s chairman of the board, said the performance was in line with expectations.
Mr. Ping says Huawei’s consumer segment has been hit hard, but the company’s business has remained stable. According to him, Huawei will continue to strengthen technical innovations and will invest more in research and development and talent recruitment to increase the efficiency of its activities.
In this report, Gu Ping also thanked Huawei loyal users and colleagues. Although this report has been prepared and published with a positive approach, the figures do not show good conditions for this Chinese giant. Huawei’s 9-month revenue is 32% lower than last year. The company had revenue of about $ 1.04 trillion in the first three quarters of last year.
Huawei’s sanctions have had a significant impact on the company’s handset business. Eric Shaw, Huawei’s former chief executive, said in September that their revenue from smartphone sales would be $ 30 billion to $ 40 billion this year.
Although Huawei has not released the company’s revenue for the third quarter of this year by different units, it is clear that their market share in many markets has decreased. According to Counterpoint, Huawei had only 8% of the Chinese mobile market in the third quarter of 2021.