With the trade ban cutting off Huawei from the US completely for a short period of time, one would expect the company’s profit margins to get hit by a drastic margin. However, Huawei hasn’t been affected at all, show the latest H1 2019 numbers released by the tech giant today. Huawei’s smartphone shipments (including Honor phones) reached 118 million units, up 24% YoY while sales revenues on the consumer market front hit CNY220.8 billion ($32.1bn).
Huawei Announces H1 2019 Revenue: 23.2% YoY Growth
Total revenues from all businesses including the carrier business for H1 2019 was at CNY401.3 billion ($58.3 billion), which is a 23.2% increase over the same period last year. The net profit was thus calculated to be 8.7%. “Revenue grew fast up through May,” chairman Liang Hua said in a statement. Liang also admitted that the road ahead does have headwinds and obstacles and. He added “they may affect the pace of our growth in the short term. But we will stay the course.”
Gizchina News of the week
The encouraging numbers come in as another report from Canalys has also revealed that Huawei’s grip on the Chinese market grows ever strong. Huawei has managed to grow 31 percent year-on-year to capture 38 percent share at home while all other competitors like Oppo, Vivo, and Apple shrunk by double digits. The company is now looking forward to its second high-profile launch this year with the Mate 30 Pro expected to launch around September – October time frame.
