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Huawei saw a 23.2% increase in revenues despite US trade dispute

Huawei recorded $58.34 billion in revenue for the first half of 2019, a 23.2% increase over the same period last year and saw a net profit margin of 8.7% despite its US trade despute.

According to Huawei’s Chairman, Liang Hua, operations are smooth and the organization is as sound as ever. With effective management and an excellent performance across all financial indicators, Huawei’s business has remained robust in the first half of 2019.

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In Huawei’s carrier business, its most affected sector, sales revenue reached USD $21.29 billion, with steady growth in production and shipment of equipment for wireless networks, optical transmission, data communications, IT, and related product domains. The firm added it has secured 50 commercial 5G contracts and has shipped more than 150,000 base stations to markets around the world.

Huawei’s enterprise business had a sales revenue of $4.59 billion for its cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing business which supplies various governments and utility customers, as well as customers in commercial sectors like finance, transportation, energy, and automobile.

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On the other hand, Huawei’s consumer business recorded a sales revenue of $32.1 billion with its smartphone shipments (including Honor phones) reaching 118 million units, up 24% YoY.

The firm adds that it saw a rapid growth in its shipments of tablets, PCs, and wearables and is building a device ecosystem to deliver a more seamless intelligent experience across all major user scenarios. Huawei’s Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide.

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“Revenue grew fast up through May,” said Liang. “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. 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.”

He added, “But we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned – including a total of USD $17.44 billion 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.”

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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