Huawei’s revenue boasts 23.2% YoY growth
The Chinese tech company announced the business results for the first half of 2019 in a statement on Tuesday.
Chinese tech giant Huawei announced its business results for the first half of 2019 on Tuesday. The company’s earnings were reported to be valued at $58.34bn (approx. AED214.3bn) in revenue, with a net profit margin of 8.7%—a 23.2% increase over the same period last year.
In Huawei's carrier business, H1 sales revenue reached $21.29bn (AED78.2bn), showing growth in production and shipment of equipment for wireless networks, optical transmission, data communications, IT, and related product domains. To date, Huawei is said to have secured 50 commercial 5G contracts and has shipped more than 150,000 base stations to markets around the world.
Revenue of Huawei's enterprise business—which handles the enhancement of its information and communications tech (ICT) portfolio across multiple domains, including cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing—was valued at $4.59bn (approx. AED16.86bn). It continues to supply to government and utility customers, as well as customers in commercial sectors like finance, transportation, energy, and automobile.
Sales revenue of Huawei's consumer business hit $32.1bn (AED117.91bn), with smartphone shipments of their flagship (Huawei) and low-cost brands (Honor) reaching 118 million units, up 24% year-over-year (YoY). The company also saw growth in shipments of tablets, PCs, and wearables, and currently has more than 800,000 registered developers, and 500 million users of its ecosystems worldwide.
"Given the foundation we laid in the first half of the year, we continue to see growth even after we were added to the entity list," Huawei's chairman Liang Hua stated. "That's not to say we don't have difficulties ahead. We do, and they may affect the pace of our growth in the short term. But we are fully confident in what the future holds, and we will continue investing as planned – including a total of $17.44bn (AED64.06bn) in R&D this year. We'll get through these challenges, and we're confident that Huawei will enter a new stage of growth after the worst of this is behind us."