Huawei reports 23.2pc revenue growth in 1st half

The National Business

PORT MORESBY: Despite the United States-China trade war and the ban on Americans from doing business with Huawei, the giant global telecommunications company reported US$58.6 billion (K198 billion) in revenue or a 23.2 per cent increase in business for H1 (first half) 2019 compared with the same period last year.
The revenue growth represents an 8.7 per cent net profit for Huawei in H1 2019 with business remaining robust.
In a statement released on Tuesday, Huawei chairman Liang Hua said the company was as sound as ever backed by excellent performance across all financial indicators.
The statement highlighted Huawei’s:

  • Carrier business H1 sales revenue reached US21.3 billion (K72 billion), with steady growth in production and shipment of equipment for wireless networks, optical transmission, data communications, IT and related product domains;
  • enterprise business H1 sales revenue was US$4.6 billion (K15.5 billion) amid continuous enhancing of Huawei’s ICT portfolio across multiple domains, including cloud, artificial intelligence, campus networks, data centres,

Internet of Things, and intelligent computing; and,

  • Consumer business H1 sales revenue hit US$32.1 billion (K108.5 billion) with smartphone shipments (including Honor phones) reaching 118 million units, up 24 per cent YoY.

To date, Liang said Huawei mobile services ecosystem had more than 800,000 registered developers, and 500 million users worldwide.
However, Liang said: “We continue to see growth even after we were added to the entity list.
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 will stay the course. We will continue investing as planned – including a total of US$17.4 billion (K59 billion) in R&D this year.” – PR