The company published the Q3 2024 financial report. It shows Huawei’s overall sales and profit journey over the past nine months. While the tech giant has scored well in the sales section, it has significantly dropped in net profit this time.

Huawei sales jumped 16% (YoY) to $23.7 billion (168.4 billion yuan) in September 2024. The total revenue in the first three quarters is 585.9 billion yuan.

Last year, the company made a sales revenue of 452.3 billion yuan, in the same period. This time, Huawei grew by 29.5% achieving big success in sales.

Although the company’s net profit has slightly declined compared to 2023. Huawei has posted a drop of 13.7% in 9-month net profit. The tech giant has earned 62.87 billion yuan ($8.83 billion) in the first three quarters of 2024. Whereas, last year’s profit was 72.89 billion yuan ($10.23 billion).

The company shared its financial report via the Shanghai Clearing House website. It hasn’t revealed the breakdown of its sales hike or net profit drop. Yet the figure shows that Huawei has to work more to fight against its rivals in the market.

Huawei reports sales jump of 16% in first three quarters this year (Image Credits: Bloomberg)

A recent report by IDC highlighted a 42% shipment growth of Huawei’s smartphones. Meanwhile, the demand for Ascend AI chips is gradually increasing in China as an alternative to Nvidia processors. The tech maker is also expanding its smart car solution business with advanced techs and more partners.

These seem some of the reasons behind Huawei sales growth of 16% in the first three quarters. Speaking of R&D investment, the company has raised the R&D expenses to 127.412 billion yuan. It is a year-on-year increase of 10.80% and accounts for 21.75% of the revenue. The only lag is net profit with a 13.2% margin.

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MasOrange is one of the biggest mobile network operators in Spain. The telecom has been planning to pull Huawei from its 5G network core. Now it has penned down a cooperation with Ericsson for using its OpenRAN tech as an alternative solution.

Spain’s MasOrange has relied on both Ericsson and Huawei so far. Later, it decided to follow the UK norms and phase out the Chinese suppliers from its network core.

Following this aim, the company has now tied up with Ericsson for its 5G OpenRAN tech to push off Huawei from Spain. It will reduce Huawei’s 5G network share from 54% to 39% in the company by removing its products from 1600 sites in Spain.

Meanwhile, it could remove Huawei from all the sites by 2028 and 2029. The company will further replace ZTE which holds 4% of the company’s network share by the end of 2027 using Ericsson’s 5G network technology.

Inputs state that it’s the first such deal for Ericsson in Europe after making a contract with AT&T last year. It is a five-year cooperation under the label of OpenRAN.

Jenny Lindqvist, the senior vice president at Ericsson said:

“This deal with MasOrange is exactly what we think the industry will be moving towards and how we will scale OpenRAN. We are still very early on the 5G curve in Europe compared to many other markets.”

Other details reveal that Ericsson will deploy its OpenRAN 5G technology in 10000 sites in Spain. How much time this deployment will take is currently unknown.

Ericsson OpenRAN 5G tech tries to phase out Huawei from Spain: Report (Image Credits: Huawei)

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The Chinese smartphone market report by Canalys shows that Huawei has sold 10.8 million units in Q3 2024. It obtained the second spot with a 16% market share.

Last year (same period), the company shipped 8.7 million smartphone units, capturing 13% of the market share. This time, Huawei earned a hike of 2.1 million units.

These achievements ultimately raised the company’s annual growth rate by 24%. According to the report, Huawei’s overall progress has been driven mainly by an active channel strategy to support its newly launched flagship products.

Canalys further notes that the world’s first triple foldable – Mate XT has also contributed to the company’s smartphone sales revenue. The tri-fold resulted in huge excitement among consumers for the upcoming Mate 70 lineup.

One of the Canalys Research Analysts – Lucas Zhong says:

“Huawei’s Mate XT Ultimate, released in September, sparked discussions about tri-fold, driving attention to its coming Mate series.”

Lucas adds that Huawei, Honor, and other Chinese tech makers have now entered the AI phase with smarter features. These additions aim to enhance user experiences.

Q3 2024 Chinese smartphone market report (Image Credits: Canalys)

Apart from Huawei, vivo remains at the top with a shipment of 13 million units. Honor ranked third and sold 10.3 million phones but declined from the last year’s figure. Xiaomi is in fourth place and sold 10.2 million units, achieving a 15% market share.

Apple is standing in fifth position with 10 million unit shipments and has obtained 14% of the market share. But the annual progress dropped by 6%. Good news is iPhone 16 series is performing well in the Chinese market despite AI-less features.

The overall Chinese smartphone market in Q3 2024 has sold 69.1 million units, an increase of 4% YoY. The respective sector is in its most active period of the year and may show new increments in the next quarter of 2024.

Q3 2024 Chinese smartphone market report (Image Credits: Canalys)

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U.S. authorities are probing TSMC these days as TechInsights found a key component made by the Taiwanese firm in the Huawei processor. Read the story HERE.

This led to major discussion among U.S. lawmakers and congressmen for “security concerns”. They even ordered TSMC to respond on this matter at the earliest.

Amid the investigation, some analysts said that the long-term U.S. sanctions seemingly have loopholes for the Huawei chip tech. It didn’t affect the company rather helped it to become independent in advanced semiconductor manufacturing.

One of these analysts is Arisa Liu, the Director of the Taiwan Institute of Economic Research. She says:

“US long-term sanctions on China’s semiconductor sector have proven to be porous.”

TSMC said that it hasn’t shipped any chips to Huawei since September 2020. Huawei also added that the company hasn’t developed any chips via TSMC after the U.S. sanctions. Hence, the confusion on how a TSMC SoC made its way to Huawei persists.

Long-term U.S. sanctions on Huawei chip tech proved porous: Analysts (Image Credits: TSMC)

However, the current scenario hints that the strict U.S. restrictions as well as trade rules aren’t affecting much to Chinese companies. Following such converse, the U.S. authorities may increase the trade export controls on China in the future.

Huawei is constantly improving its chips using native technologies. The company has said that its Ascend 910B chip is doing great and can draw level with the Nvidia A100. Ascend 910C is also in the pipeline and will soon join the processor series.

It would be worth seeing how this ongoing investigation on TSMC and China’s chipset growth will proceed in the coming days.

Huawei silently testing Ascend 910C AI chip to rival Nvidia: Report

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As per the rankings, Huawei took first place in the Q3 2024 Chinese foldable market race. It obtained 41.0% of the market share with a better annual growth rate.

The company secured the top position following the fruitful success of the Mate XT tri-fold. Huawei launched its new creation last month with three folding screens. It bears a Z form factor and uses a dual-hinge technology to maintain durability.

IDC report states that Huawei’s tri-fold opened a new track in the foldable game. Many tech vendors are now busy readying their tri-folding handset as the champion Mate XT leads in the market. We may witness more such creations in the future.

“…the launch of the world’s first tri-foldable phone is expected to further drive the foldable market development.” – said IDC.

Apart from Huawei, the report highlights seven top rankers of the Q3 2024 Chinese folding phone sector. Honor follows its parent firm at the second spot with a 21.9% market share. It has achieved second place in horizontal foldable devices while the third position in the clamshell product market.

Q3 2024 Chinese foldable market report (Image Credits: IDC)

Xiaomi ranked third in the Chinese foldable market. This is the first time after Q2 2021 that the MIX Fold maker entered the top three foldable rankers list. It achieved a market share of 17.2% following the success of the new MIX Fold.

Samsung captured 7.7% of the market share whereas, Vivo is in fifth place, ranking third in the horizontal foldable market. OPPO, Lenovo, and ZTE secured the sixth, seventh, and eighth positions respectively in the Q3 2024 Chinese foldable market.

IDC also mentioned that the Chinese foldable market shipped around 2.23 million units in the third quarter of 2024. The year-on-year growth is better but has slowed down significantly, compared to the previous eight quarters.

The research firm notes that foldable phones still have room for changes as well as improvements. The price and experience of the product don’t meet everyone’s needs like a regular phone. Hence, tech makers have to make more innovative folding devices.

Q3 2024 Chinese foldable market report (Image Credits: IDC)

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IDC report shows that Huawei surpassed Apple in the Chinese smartphone sales ranking for Q3 2024. The analysis also counts some other tech giants with their progress and falls in the Chinese consumer market for the third quarter of this year.

Apple and Huawei made their way into the top five rankers list. The former grabbed second spot whereas the latter ranked third. Despite a rank ahead, Apple’s yearly iPhone sales dropped to 0.3%, achieving 15.6% of the market share in Q3 2023.

Huawei achieved third place in Q3 2024 with a market share of 15.3%. It’s just 0.3% less than that of Apple and increased by 4.3% from the last year (same period).

Regarding progress, the company excelled in the Q3 2024 Chinese phone sales ranking with 42.0% YoY. It’s the largest figure among all the top 5 rankers. This is the fourth consecutive quarter that Huawei continued to progress with double-digit sales.

Huawei’s growth over Apple is the result of booming sales of the Mate 60 and Pura 70 series. Both flagship lineups have been shining like stars in the Chinese smartphone market since their launch. You can check Pura 70 shipment details HERE.

Q3 2024 Chinese smartphone sales report (Image Credits: IDC)

On the flip side, the Chinese authorities and firms constantly prohibited the use of iPhones in the country. This step affected the sales of the iPhone in the market.

Apple unveiled iPhone 16 models in September but the shine of this series also faded, following Huawei’s tri-fold phone. It looks like the Chinese OEM continues creating problems for the iPhone maker in every possible way it can.

Speaking of other rankers, Vivo caught the first place with 18.6% market share and 21.5% YoY growth. Xiaomi is in fourth place with a 14.8% market share and 12.8% YoY progress. Honor is last with 14.6% shares but a lag of 22.5% YoY annual growth.

Together, these rankers boosted Chinese smartphone shipments by 3.2% YoY (68.8 million units in the third quarter of this year). Arthur Guo, the senior research analyst at IDC China says:

“A significant wave of device upgrades is propelling the sustained recovery of the Chinese smartphone market. Despite ongoing challenges, consumers are highly motivated to purchase new smartphones after three years of pent-up demand.”

Q3 2024 Chinese smartphone sales report (Image Credits: IDC)

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U.S. authorities began probing TSMC a few days ago as they suspected the firm of chip dealings for Huawei devices. Although the company claimed that it isn’t a part of such transactions and assured to take action to comply with the trade regulations.

Now the Taiwanese chip producer found a major loophole in this topic. As per a new report, TSMC notified the US about its chip parts being used in one of the Huawei AI processors. The company found details after a quick teardown by TechInsights.

TechInsights dismantled the Ascend 910B AI chip. During exploration, the research team found an advanced TSMC SoC within a multi-chip system of the processor.

The research firm informed TSMC about the new findings before sharing them publicly. Hereafter, the Taiwanese company brought the concern to the US.

During the investigation, TSMC uttered that it hadn’t shipped any chips to Huawei since mid-September 2020. Thus, the finding hints at the stocked components.

“We are not aware of TSMC being the subject of any investigation at this time. We maintain a robust and comprehensive export system for monitoring and ensuring compliance.” – said TSMC.

Huawei earlier stated that it doesn’t build chips through TSMC after the US ban. Following the trade sanctions in 2019, the company was unable to access or export any products to foreign countries, if made by the U.S. advanced technologies.

Sources mentioned that Huawei launched its Ascend 910B in August 2019, before the sanctions. At that time, the chip used to be produced under the TSMC foundry.

Financial Times added that TSMC further informed the U.S. about a new customer placing orders for Huawei Ascend 910B chips. It interrogated the customer for orders but didn’t get any significant details on this matter.

The ongoing investigation will probably continue to get more turning points as it proceeds. It would be worth seeing how far the U.S. will probe firms for helping Huawei.

TSMC notified US about its chip used in Huawei devices (Image Credits: TSMC)

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SenseTime Group is an AI company in Hong Kong, China. It develops techs like facial recognition, object detection, optical character recognition, image, as well as video analysis, autonomous driving, remote sensing, and large AI models.

U.S. sanctions hit many Chinese companies years back and SenseTime is one of them. The OEM can not access advanced technologies for its next-gen AI LLMs. The same case is with Huawei which is facing difficulties but aims for self-reliance.

SenseTime is seemingly helping Huawei expand its AI chip ecosystem in the country. In a recent interrogation, the Vice President of SenseTime – Alvin Zou revealed that their new AI Data Center uses a “lot of” Huawei Ascend 910C AI chips.

Apart from Huawei, Biren Technology and some other Chinese chipmakers have provided AI processors for the new data center. Alvin pointed out that Huawei’s Ascend 910C delivers significant performance improvement over other AI chipsets.

He further notes that China-made AI chips lag at some points compared to foreign processors. Yet, they are inching closer to better performance day by day.

“There are still some gaps between domestic chips and foreign ones in terms of training but in the field of inference chips, the performance of Chinese products is getting closer to that of foreign ones.” – said Alvin Zou.

Huawei is establishing itself as a major alternative to its foreign rivals for its Chinese customers. Whether it is Apple in the smartphone market or Nvidia in the AI chipset space. Although it’s still a few steps away from the U.S. chip producer.

Huawei AI chips (Image Credits: Huawei)

As per Bernstein Research, Huawei owns only 10% of the Chinese AI chip market whereas, Nvidia has 90%. It’s no less than an AI chip dominator in China.

Nvidia even said in an interview that it still receives more than expected orders for H20 every month despite China’s promotion of its home-ground AI chips.

Huawei and other Chinese chipmakers lack advanced chipmaking tools like EUV that help in improved chip fabrication. Yet, they are trying their best to rise in this game.

China is also constantly encouraging its firms and customers to use Huawei AI chips to boost AI computing ecosystem development in the country. iFlytek, for instance, launched recent AI models equipped with Huawei’s AI processors.

As more Chinese customers opt for Huawei Ascend AI chips, the company will progress in the chipset field. Huawei has started taking on consumers for AI Ascend 910C chip sampling. Let’s see how this activity progresses in the time ahead.

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According to the DigiTimesAsia, the Huawei Mate 70 series could debut in mid-November. The expected launch date for the flagship may fall on Singles’ Day 2024.

China is busy celebrating the Double Eleven sale fest. Several e-commerce channels organize this festival on the occasion of “Singles’ Day” which is on November 11 this year. The report hints that Huawei could launch its new Mate lineup on the same day.

Last year, Huawei unveiled the Mate 60 series on August 23 with a discrete launch. The same time and treatment were expected this year for the next Mate models.

However, the hardware and software optimizations of the Huawei Mate 70 series led to a delay in launch. While users expected to witness the flagship lineup in September 2024 clashing with the iPhone 16, it shifted to mid-November.

But the wait is seemingly about to end. Many Chinese tech giants are ready to showcase their new premium smartphones in the market and Huawei will probably join this race by November 11, 12 (Tuesday) or in the same week with Mate 70 series.

The report further says that the Mate 70 models have already entered mass production. Judging from last year’s promotion strategy, the company may directly unveil its new Mate handsets on Singles’ Day this year. But an official confirmation awaits on this matter.

This time, Mate 70 probably won’t trouble customers with its tight supply problems. Early inputs revealed that Huawei has prepared enough stock to meet the market demands without fail. The overall unit capacity is 50% more than the Mate 60 series.

Huawei Mate 70 series will bring major internal upgrades and some minor changes to the appearance. The devices may use the next-gen basalt body architecture, Kunlun Glass, and camera framework with better drop and wear-resistant properties.

Display and imaging capabilities will also fetch new upgrades to deliver the best viewing and photography experience. HarmonyOS NEXT and the rumored 5nm Kirin chip are also on the list to boost the performance of the new models.

Let’s see what else we will find with the new Mate 70 smartphones.

Huawei Mate 70 series tipped to debut by mid-November (Image Credits: Huawei)

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Maxis Communications is one of the oldest and largest telecom operators in Malaysia. It provides communication products, applications, and value-added services to general customers, large enterprises, and small/medium business groups.

According to the report, Malaysia requires a stable, faster, and easy-to-use network connection for its enterprises. Since Huawei has well-expanded its network tech in Southeast Asia, Malaysia is seeing the OEM as a major solution for its 5G network.

Inputs reveal that Huawei could team up with Maxis Communications to build the second 5G network in Malaysia despite U.S. concerns about security.

One of the foreign representatives mentioned that if Maxis gets the chance to build Malaysia’s second 5G network, then it will choose Huawei over any other partner.

The anonymous person also states that Huawei’s indulgence in the second network may pull away customers from the existing network techs and reduce the revenue required for the current network solutions’ growth and development.

“If it goes to Maxis, as some people say, it is likely that Huawei will benefit from it as their infrastructure partner. In the end, it could look like Malaysia is helping Chinese interests” – said the foreign representative.

Malaysia aims to uplift its tech section with top-tier chip investments and digital growth. The country is seeing a second 5G network as the need for ultra-high-speed mobile broadband. Malaysia Prime Minister Anwar Ibrahim said:

“While we get the best from the West, we also should benefit the best from the East.”

However, some U.S. experts believe that a direct connection between Malaysia with Huawei could affect the country’s relations with Western chip investors who see Chinese firms as a huge risk to security.

A cooperation agreement between Huawei and Maxis Communications still requires confirmation. The inputs reveal that a big announcement on this matter is expected very soon.

Huawei to help Malaysia boost 5G network tech amid U.S. ban: Report (Image Credits: Huawei)

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