Huawei reports 2.2% revenue drop in first 9 months

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The Huawei logo seen during Mobile World Congress 2022 (MWC) at the Fira de Barcelona, Spain, February 28, 2022. /CFP

Amid the global economic downturn, China's telecom giant Huawei saw its revenue fall by 2.2 percent from January to September compared to the same period of last year.

The Shenzhen-headquartered company said on Thursday that in the first three quarters, it made a revenue of 445.8 billion yuan ($61.63 billion), with the profit margin of the main business standing at 6.1 percent.

In the same period of previous year, the company's revenue was 455.8 billion yuan, down 32 percent year on year, with a 10.2 percent main business profit margin, company data showed.

"The overall business performance is in line with forecast," Eric Xu, Huawei's rotating chairman, said in a statement.

The decline of the device business continued to slow down and the ICT infrastructure business maintained stable growth, he said, noting the company will continue to recruit talents and invest in research and development.

Although the company statement did not provide a breakdown of revenue, a spokesperson said its device business was impacted by COVID-19 and the global economic downturn, AFP reported on Thursday.

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