--- title: "China's Huawei reports a 2.2% decline in revenue so far this year." description: "Chinese tech giant Huawei's revenue increased in the most recent quarter as infrastructure sales helped to overcome damage to its smartphone industry" author: "Muskan Singh" published: 2022-10-28 canonical: https://www.mindstick.com/news/2233/china-s-huawei-reports-a-2-2-decline-in-revenue-so-far-this-year category: "mobile/tablet" tags: ["mobile development", "mobile", "technology", "business", "technology news"] reading_time: 2 minutes --- # China's Huawei reports a 2.2% decline in revenue so far this year. The largest [**manufacturer**](https://www.mindstick.com/news/2164/apple-suspends-plans-to-employ-ymtc-processors-made-in-china) of network equipment for phone and internet carriers reported a 2.2% reduction in revenue to 445.8 billion yuan ($63.1 billion) in the first nine months of 2022 compared to the same period last year. According to data revealed on Thursday, [**Chinese**](https://www.mindstick.com/news/2201/china-s-communist-party-looks-to-its-scientific-elite-to-assist-it-resist-us-technological-pressure) [tech](https://www.mindstick.com/services/technologies) giant Huawei's revenue increased in the most recent quarter as [infrastructure](https://www.mindstick.com/news/2313/a-cybersecurity-and-infrastructure-security-agency-will-monitor-the-us-midterm-elections) sales helped to overcome damage to its smartphone industry due to U.S. sanctions. The largest manufacturer of network equipment for phone and internet carriers reported a 2.2% reduction in revenue to 445.8 billion yuan ($63.1 billion) in the first nine months of 2022 compared to the same period last year. **According to information that had already been made public, third-quarter sales of $144.2 billion ($19.9 billion) was up 6.5% over the same period last year.** Since then-[President Donald](https://yourviews.mindstick.com/view/81357/us-president-donald-trump-targets-china-yet-again) Trump restricted access to American processor chips and other [technologies](https://www.mindstick.com/blog/11429/tools-and-technologies-to-learn-in-2017) in 2019, **Huawei Technologies Ltd., China's first [international](https://yourviews.mindstick.com/view/85496/celebration-of-international-chocolate-day) [tech company](https://answers.mindstick.com/qa/30529/which-tech-company-restructured-to-create-a-new-company-called-alphabet), has struggled. The corporation disputes American claims that it poses a security concern and might make Chinese espionage easier.** The development of network technology for automobiles, hospitals, mining, and factories has been accelerated by Huawei. It claims that is less susceptible to penalties from the US. The business reported a 6.1% profit margin for the first nine months of 2022, or over 27 billion yuan ($3.7 billion). It stated there was a decrease from the prior year but provided no further information. This year “may prove to be the most challenging” for smartphones and other devices, a separate company statement said. It gave no sales details. **Huawei supplies components and software for navigation, dashboard displays, managing vehicle systems and other services.** [One of the three](https://answers.mindstick.com/qa/33133/name-one-of-the-three-players-who-holds-the-scoring-record-31-goals-for-a-38-game-season) Huawei executives who serves [as chairman](https://answers.mindstick.com/qa/95900/who-has-been-appointed-as-chairman-of-staff-selection-commission-ssc) for a period of time, Eric Xu, stated in a statement that 'the fall in our device business continued to slow down, while our ICT infrastructure business maintained stable development.' **China accounts for half of Huawei's 195,000 global employees and the company claims that its citizens own it. Huawei was founded in 1987.** --- Original Source: https://www.mindstick.com/news/2233/china-s-huawei-reports-a-2-2-decline-in-revenue-so-far-this-year Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.