Huawei

Last year Huawei broke a record by selling more than 200 million smartphones. While this year’s estimates were looking good, with the Chinese tech giant shipping, according to analysts and researchers, more than 100 million smartphones in the first five months of the year, and a 30 percent revenue increase mostly thanks to its Chinese home market, we’re now getting official numbers from the company as it announced it financial performance for the first half of 2019.

Its revenue grew 23.2 percent year-on-year, to CNY401.3 billion ($58.2 billion), but the company recorded “excellent performance across all financial indicators”. Despite 5G roadblocks internationally, Huawei’s carrier business managed to secure 50 commercial 5G contracts, and has shipped more than 150,000 base stations.

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 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 CNY120 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 — Liang Hua, Huawei Chairman

The consumer business branch grew thanks to an increase in the number of smartphones shipped to 118 million units, up 24 percent compared to 2018. Sales for tablets, PCs, and wearables have also surged.

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