Huawei’s third-quarter revenue soared 27%, driven by a hike in deliveries of smartphones before a U.S. trade blacklisting.
Huawei, the world’s most prominant telecom network gear maker and the No. 2 manufacturer of smartphones, was all, however, banned by the U.S. in May from doing business with American firms, significantly crippling its ability to source vital components.
The company has been granted a stay until November, meaning it will lose access to some technology the subsequent month. Huawei has thus far mainly sold smartphones that had been launched before the ban.
Its latest Mate 30 smartphone, which lacks access to a licensed version of Google’s Android OS, started sales last month.
Huawei in August said the restraints would hurt less than initially feared, however, it could still push its smartphone business’ income lower by around $10 billion this year.
The tech titan didn’t break down third-quarter figures, however, stated on Wednesday revenue for the first three-quarters of the year surged 24.4% to 610.8 billion yuan ($86.06 billion).
Revenue in the quarter ended Sept. 30 grew to 165.29 billion yuan, according to calculations based on previous statements from Huawei.
The corporate said it has delivered 185 million smartphones so far this year. Based on the corporate’s previous statements and forecasts from market research agency Strategy Analytics, that indicates a 29% surge in third-quarter smartphone deliveries.
Nonetheless, growth in the third quarter slowed from the 39% increase the company reported in the first quarter. Huawei didn’t break out figures for the second quarter either, however, stated income surged 23.2% in the first half of the year.