Huawei has officially posted its business results for the first half of 2019. The Chinese corporation revenues jumped by 23.2 percent YoY. The phone maker and telecoms organization’s net profit margins for H1 hit 8.7 percent. Combined H1 revenues from carrier, consumer, and enterprise segments reported $58.3 billion in profit.
Despite recent issues with the U.S. government that saw the Trump administration ban the corporation from doing business with American companies, only to softly lift the suspension a few weeks later, Huawei’s operations saw positive and smooth growth.
Huawei reported stable growth in production and shipment of carrier-based products such as equipment for wireless networks, data comms, IT, and other related products. As reported earlier, Huawei has since secured 50 commercial 5G contracts, 28 of which originate from Europe. Also, Huawei says it has shipped base stations in excess of 150,000.
The corporation also made notable strides in enterprise after it enhanced is ICT portfolio across several domains such as the cloud, AI, IoT, and data centres, to mention a few. It remains a key supplier for governments and utility client, among other sectors in energy, transport, and finance as is the case in Kenya’s key businesses.
The results further show Huawei shipped more than 118 million smartphones across the globe, marking a 24 percent jump YoY. The company says it registered impressive shipments of wearable devices, computers, and tablets.
At the moment, the Huawei ecosystem has more than 800K registered developers, with more than 500 million users across the globe.
“Revenue grew fast up through May,” said Mr. Liang Hua, Chairman of Huawei. “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.”