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Huawei reports robust revenue in H1

By Zhu Shenshen | July 25, 2016, Monday | Online Edition

Huawei Technologies today reported a 40 percent revenue growth in the first half as the balanced growth in carrier, consumer and enterprise business growth and gaining awareness and market shares in the global market.

Huawei, the China's biggest telecommunications device firm, posted a revenue of 245.5 billion yuan (US$37 billion) in the first half compared with 175.6 billion yuan a year ago. The operating margin was 12 percent.

The 5G and Internet of Things are expected to boost Huawei's carrier business while security and cloud computing demands have fueled sales of its enterprise business. The most shining point is Huawei's consumer business, which has pushed the Shenzhen-listed firm to the position of the world's No. 3 smartphone vendor. Originally known for its low-cost smartphones, Huawei has now moved into higher-end models and become rivals of Samsung and Apple in the high-end market.

The global smartphone sales hit 320 million units in the second quarter, led by the top-five market leaders Samsung with a 24.5 percent share, Apple with 15.1 percent, Huawei with 9.2 percent, Oppo with 5.6 percent and LG with 5.4 percent, according to TrendForce, a Taiwan-based researcher.

Huawei's flagship models P9,Mate 8 and 2-in-1 computer Matebook debut this year have been distributed in "several dozen countries and regions", Cathy Meng, Huawei's chief financial officer, said in a statement talking about the audited fiscal report.

Huawei is also in a long-standing patent dispute with Samsung. Samsung on Friday sued Huawei for alleged patent violation, the latest development in a series of disputes between the Asian smartphone giants.

Metro


 

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