It’s all over but the shouting. Huawei will survive and thrive, no matter what the US does short of bombing Shenzen. Despite the US blockade, Raymond Zhong of the NY Times calculates Q3 sales were up 27% over the previous year. I expect 2019 sales will be about US$120 billion.

“Sales from January to September were $86 billion, an increase of nearly 25 percent from a year earlier, Huawei said. That implies, based on comparisons with previously released figures, that sales accelerated in the July-to-September quarter.”

Zhong notes you have to go beyond the (limited) financial release/

It can also be selective about which numbers it shares … the company did not offer a breakdown of its latest sales for different business divisions, which would have provided a better sense of how it has been dealing with the American blacklisting.

I have some details for Zhong. Ritchie Peng said Huawei has now shipped 400,000 5G radios, billing over several quarters billions. He added the demand was far beyond expectations.

Sales in China since the Ministry decided to “accelerate” have been high and going higher. That’s a major part of the revenue picture. Accelerating the network build is proving a very good way for the Gov to support Huawei.

Huawei sales of phones in China have been skyrocketing despite a flat market, up ~30,000,000. That’s more than enough to compensate for the drop in Europe over Google Apps. China is also growing rapidly in IoT.

Other product sales are starting to kick in, from watches to TVs. Profit margins are holding up, partly because of $billions of investment in dedicated chips. For long runs, the saving is large.

Trump is perhaps Huawei’s best salesman.