During the first three quarters of 2021, Huawei generated CNY 455.8 billion in revenue ($71.3 billion), and its net profit margin was 10.2%.
Commenting on the company’s latest business results, Guo Ping, Huawei's rotating chairman, said, "Overall performance was in line with forecast. While our B2C business has been significantly impacted, our B2B businesses remain stable. Through our ongoing commitment to innovation, R&D, and talent acquisition, and rigorous attention to operating efficiency, we are confident we will continue to create practical value for our customers and the communities in which we work."
"We would like to thank our customers and partners for their ongoing trust and support," continued Guo. "With their collaboration and the excellent work and dedication of our Huawei team across the globe, we will together use digital technology to drive a greener, intelligent world."
As the Chinese telecom giant continued to struggle under US sanctions that have hit its smartphone sales, Huawei’s revenue plunged by 32% in the first three quarters of the year. Despite that, the firm's net profit margin — a measure of the ratio of profits to revenue — increased slightly to 10.2%, attributing that to increased operational efficiencies.
Known as one of the world’s biggest telecom equipment vendors, Huawei is also competitive as a smartphone producer, along with Apple and Samsung. Regardless of the ongoing US pressure, Honor, the Chinese smartphone brand spun out of Huawei, saw shipments soar during Q3, becoming the country's third-ranked brand.