Chinese phone maker Huawei said it was doing its best "to survive and forge forward" despite US sanctions.

Huawei is one of a handful of Chinese tech firms targeted by Donald Trump on the grounds of national security.

The phone maker had been busy stockpiling its supply of microchips before a US trade ban came into effect in September.

On Friday, it said revenues for the first three quarters of 2020 were 9.9% higher than the same period last year.

But Huawei said its ability to find component parts such as microchips has been "put under intense pressure and its production and operations saw increasing difficulties".

Disruptions in manufacturing caused by Covid-19 were also to blame.

During January to September this year, Huawei generated 671.3bn Chinese Yuan ($100bn; £77bn) in revenue.

Chips down

The US government put Shenzhen-based Huawei on its blacklist last year and put pressure on other countries to exclude Huawei from their next-generation 5G networks.

The US now requires any company that sells Huawei products made anywhere with US technology to obtain a licence.

Huawei said it was hopeful some chipmakers will apply for licences and was willing to work with partners to replenish its supplies.

Going forward, Huawei said it would focus on technologies such as Artificial Intelligence (AI) and cloud "and unleash the value of 5G networks along with its partners".

On Thursday, Huawei unveiled its Mate 40 smartphones, claiming they feature a more "sophisticated" processor than Apple's forthcoming iPhones.

Source: BBC

BDST: 1420 HRS, OCT 23, 2020
AP