Huawei announced its business results for the first half of 2019: $58.34 billion in revenue, a 23.2 percent increase over the same period last year. The company’s net profit margin for H1 2019 was 8.7 percent.
According to Huawei 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, the company’s business has remained robust in the first half of 2019, he said.
In Huawei’s carrier business, H1 sales revenue reached $21.29 billion, with steady growth in production and shipment of equipment for wireless networks, optical transmission, data communications, IT, and related product domains. To date, Huawei has secured 50 commercial 5G contracts and has shipped more than 150,000 base stations to markets around the world
In Huawei’s consumer business, H1 sales revenue hit $32.1 billion. The technology giant’s smartphone shipments (including Honor phones) reached 118 million units, up 24 percent YoY.
“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 $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.”
