Mobile sales push continued Huawei profits

Huawei has revealed more encouraging financial results as the company extends its influence across the technology world.

The Chinese firm disclosed that revenues grew 15 per cent in the first half of 2017 to reach $41.83 billion, with operating margins reaching 11 per cent.

Huawei's recent increases was spurred by successes across its main business operations, with mobile, ICT and enterprise all performing strongly. "The company is expected to maintain its current momentum, and round out the year in a positive financial position," Huawei said in a statement.

One of the biggest investors in 5G research, Huawei's carrier and enterprise businesses both saw strong performance, the company said, although it did not reveal exact results from each.

Instead, the company released further details on its consumer business group, which concerns its smartphone, PC and wearable products. Sales reportedly rose 36.2 per cent, spurred on by impressive demand for its high-end smartphones.

Huawei, which is the third-largest smartphone seller in the world behind Apple and Samsung with 9.8 per cent of the global market, said it shipped 73.01 million smartphones in the first half of the year, a year-on-year increase of 20.6 percent.

Europe proved to be a fairly profitable market for the company, which reported 18 per cent year-over-year growth, with Central and Eastern and Nordic Europe particularly strong. Huawei now says it is planning to expand its expansive retail network to reach 56,000 retail stores worldwide by the end of 2017 – an increase from 35,000 in May 2016. 

“Our Consumer Business Group continued to deliver extraordinary growth, beating the industry average and penetrating high-end markets around the globe," said Richard Yu, chief executive officer of Huawei’s consumer business group. "This ongoing growth is testament to the strength of the Huawei brand and the momentum we’ve built through delivering premium, market-redefining devices that resonate with today’s discerning consumers.”