Net profit was 7.79 billion yuan, down 70.5%, a sign that the company may be struggling with its chipmaking yield as the US has repeatedly cast doubt on China’s ability to make advanced 7-nanometer chips at scale.
Huawei Technologies Co’s revenue grew for the seventh straight quarter after its smartphones enjoyed sustained demand in China at Apple Inc’s expense.
The Shenzhen-based telecommunications giant posted sales of 168.4 billion yuan ($31.3 billion) in the September quarter, up 15.6% from a year earlier, according to calculations based on its parent’s nine-month financial figures posted on the Shanghai Clearing House’s website. The filing did not offer a breakdown on contributions from different business units.
