Mubasher: Huawei on Tuesday reported that its revenue jumped by 24.4% year-on-year in the third quarter of this year, according to the Chinese giant’s press release.

The telecommunications behemoth’s revenue came in at 610.8 billion Chinese yuan (CNY) ($86.32 billion) in Q3-19, compared with Q3-18.

The Chinese firm’s net profit margin in this period was 8.7% in the three-month period ended last September.

Smartphone business sustained a steady growth, while other new businesses such as PCs, tablets, wearables and smart audio products expanded rapidly.

Over the first three quarters of this year, Huawei’s smartphone shipments climbed by 26% on year to 185 million units.

So far, Huawei inked over 60 fifth generation (5G) technology commercial contracts with global carriers.

By the end of the reported quarter, over 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global others partnered with Huawei for digital transformation.