Huawei third quarter report is released. The data is stable but the pace of progress has slowed down significantly, and it may face real test next year.
data shows that Huawei's sales revenue from January to September was 671.3 billion yuan, a year-on-year increase of 9.9%, and a net profit margin of 8.0%. Huawei said that the business results in the first three quarters of 2020 are basically in line with expectations.
Last night, Huawei officially released the Huawei Mate40 series mobile phone equipped with "out of print core", which was called Huawei's "the most powerful Huawei Mate in history" by Yu Chengdong .
Faced with the continuous increase in the United States, Huawei has maintained steady growth, but after TSMC had no choice but to cut off chip supply, it was once rumored to sell Honor business. Although it is significantly affected by the epidemic, the third quarter report, with a significant slowdown in growth, seems to have sent out different signals.
performance is still stable under multiple rounds of pressure. Hide mobile phone shipment data
Although Huawei said that its performance meets expectations, it is slightly difficult compared to last year, including the impact of the epidemic and the impact of external pressure.
In the same period last year, Huawei achieved sales revenue of 610.8 billion yuan, a year-on-year increase of 24.4%, and a net profit margin of 8.7%, of which 185 million smartphone shipments were shipped, and Huawei did not release this data this year.
Under the dual influence of the new crown epidemic and the US ban, Huawei's global supply chain system has increased sharply, and production and operation are difficult. Just at the Huawei Mate40 launch conference yesterday, Huawei Consumer Business CEO Yu Chengdong said: "Huawei is in a very difficult time now. We are experiencing the third round of ban from the US government. This ban is extremely unfair and has led to our difficult situation."
Huawei said that it will do its best to find solutions. In the next stage, it will make full use of ICT technology capabilities such as AI, cloud, 5G, and computing, and continue to work with global partners to release the dividends of 5G networks. Yu Chengdong also said that no matter how difficult the situation is, Huawei has promised to continue to carry out technological innovation and bring the best technology and innovation to consumers.
In fact, from being included in the "entity list" by the United States on May 15 last year, to suppressing and upgrading TSMC's supply cutoff this year, to revising the ban, cutting off the purchase path directly from other chip manufacturers using American technology, Huawei's situation is becoming increasingly difficult. Recently, news of Huawei's intention to sell Honor business has been reported in the market. However, in terms of performance, Huawei has maintained steady growth over the past year and once surpassed Samsung to become the world's number one mobile phone manufacturer.
For the whole year last year, Huawei achieved operating income of 858.8 billion yuan, a year-on-year increase of 19.1%, and net profit of 62.7 billion yuan, a year-on-year increase of 5.6%. In the first half of this year, Huawei achieved sales revenue of 454 billion yuan, a year-on-year increase of 13.1%, and a net profit margin of 9.2%.
Mate40 Hard-Back iPhone 12 Really test next year
According to IDC data, in the Chinese market with a market share of more than US$600 in the first half of this year, Huawei's market share was 44.1% and Apple's market share was 44.0%, which is comparable.
Just last night, Huawei Mate40 series mobile phones were released as scheduled, including 4 models of Mate 40, Mate 40 Pro, Mate 40 Pro+ and Mate 40 Porsche Design Edition. The starting price overseas is 899 euros (about RMB 7,098), and the top allocation price is 2,295 euros (about RMB 18,119).
Before this, Apple has just released its new iPhone 12 series phones. Even at the price of 2,000 yuan cheaper in the Chinese version, the price of Huawei Mate 40 series is still completely higher than that of the iPhone 12 series. The latter starts at RMB 5,499 (iPhone 12 mini), and the starting price of iPhone 12, iPhone 12 pro, and iPhone 12 pro max is 6,299 yuan, 8,499 yuan, and 9,299 yuan respectively, and the top price is 11,899 yuan.
As Huawei's "out-of-print core" flagship mobile phone, Huawei Mate40 series has always attracted much attention from the outside world. Yu Chengdong said at the press conference: "The Huawei Mate40 series is the most powerful Huawei Mate mobile phone to date. The Kirin 9000 series chips have achieved a new height of performance and energy efficiency ratio."
Before the launch of Huawei Mate40, Huawei had chartered the flight to transport the last batch of Kirin 9000 series chips from TSMC before September 15. However, unconfirmed news shows that TSMC only supplies Huawei's next-generation 5nm process Kirin chips with only about 8 million.
Judging from the sales of mobile phones, the iPhone 12 series, as Apple's first 5G mobile phone, has not been too surprised by "complaining" many surprises, but major platforms are still hard to find. At 0:00 on October 23, Huawei Mate40 Pro and Huawei Mate40 Pro+ opened 100 yuan reservations in Huawei Mall, online authorized e-commerce platforms, offline authorized retail channels. Some users said that Huawei Mate40, which is "out of print", is harder to grab than Apple.
CITIC Securities believes that the domestic version of Huawei Mate40 series will be released on October 30. Based on the historical pricing situation, it is expected that domestic pricing will be 20%-30% lower than the euro pricing. Based on the previous sales of Huawei Mate series, considering the sanctions, it is expected that the sales of the Mate40 series will be in the tens of millions.
Given that Huawei had already reserved a large number of self-developed and externally-produced chips before September 15, CITIC is expected to still support its use in the next 1-2 years, and it is not ruled out that it will win longer inventory usage for Huawei's main brands through sub-brand splitting and limited shipment of new machines in batches.
However, CICC previously pointed out that due to the impact of the US ban, Huawei was more cautious in stocking and the "915" chip supply was cut off, shipments dropped sharply. Counterpoint Research noted that Huawei fell to 16% in August after reaching 21% of global market share in April, while Samsung's market share rose to 22%. Foreign media predict that Huawei's sales in 2021 may fall 75% year-on-year. Next year may face real tests.
A few days ago, Huawei once again ranked first with 131.7 billion yuan in R&D funds, far surpassing Internet giants such as Alibaba, , JD.com, , etc. Some analysts pointed out that in the face of unreasonable suppression of layers of upgrades, Huawei may reform its mobile phone strategy.
