Despite all the tensions and hardships that Huawei had to go through in the last few months, the company is still much above its competitors, including Ericsson and Nokia. In fact, Huawei’s as big as the two European vendors combined in the global market. Even though the company has been facing a lot of backlash from multiple countries and regions across the world for allegedly being connected to the Chinese government with an aim for spying, Huawei was still dominating the global telecom equipment market in the third quarter of 2021. According to an ET Telecom report citing Dell’Oro Group, Huawei was the leading global telecom equipment vendor ahead of Nokia and Ericsson in the first three quarters of 2021.
Huawei’s Cumulative Revenues for the Telecom Market Stood at Nearly $100 Billion
According to Dell’Oro Group, Huawei’s cumulative revenues for the telecom market stood at nearly $100 billion. Further, the top seven vendors held up to 80% of the global market share, which is substantial. The growth of the telecom equipment market was in double digits in the first nine months of 2021. This is understandable since the need for network connectivity rose significantly with the COVID-19 pandemic settling across the globe. However, there is no doubt that Huawei’s revenues are hurt because of the exclusion from some of the major markets. Even in India, the government had asked the telcos to not partner with a Chinese gear vendor for the 5G trials. On top of this, the telcos have been asked to award any new contracts to the Chinese companies, including ZTE and Huawei. Some of the major regions in Europe are also avoiding partnering up with Huawei for any future projects because of network security concerns. It is very likely that Huawei won’t be a part of India’s 5G or, for that matter, any new network technology for the foreseeable future.
