In the April-June quarter, Huawei has made 221.6 billion yuan ($32.2 billion) in revenue. The business of Huawei was stopped with American companies, due to the escalation of the US-China trade war. Despite this dispute, 23 percent increase over the previous quarter was seen in Huawei’s revenue. For the first six months of 2019, net profit margin was 8.7 percent on 401.3 billion yuan ($58.3 billion) of revenue.
However, A Beijing-based independent industry analyst, Fu Liang, on Monday in an interview told the Global Times that Huawei is expected to see an around 30 percent revenue growth in the first half of 2019.
In the first half of the year, Huawei sold 118 million smartphones. In each quarter, they sold approximately 59 million smartphones, which represents a 24 percent year-on-year increase. For the same period of time, consumer business of Huawei reached 220.8 billion yuan ($32.1 billion) in revenue, making up 55 percent of the company’s total sales.
In a statement, chairman Liang Hua said:
Revenue grew fast up through May,”“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.”
The company is not committed to issue regular financial figures because of the Huawei’s complicated private ownership structure. The earning release of the company is also very less detailed than we expect from its publicly traded competitors. But now, the company is releasing much more details about its revenue than it has ever done before. We can say that this quarterly report by Huawei, which was released in April was actually its first ever report.
Today, a report on first-half financial statements was released by Chinese technology giant Huawei. Both domestic and foreign analysts have estimated a 23 percent increase in revenue. All the details of Huawei’s increasing dominance of the Chinese smartphone market over the past quarter, was shared in this report.
Huawei leaded to grow 31 percent year-on-year to capture 38 percent share at home, in spite of an overall market downturn of six percent. According to the report, Xiaomi, Oppo, Vivo, and Apple all experienced double-digit declines. So, it is quite obvious that it costed every one of Huawei’s major competitors. The parent company, China played an important role as, China accounted for 64 percent of Huawei’s shipments. Since 2013, it is the highest proportion. According to Fu, Huawei’s strongly expanded consumer business mainly supported the growth of revenue, especially in China, which was not affected by the US ban.
Mobile network business was Huawei’s core business, according to the Xinhua News Agency, but in recent years its consumer businesses, selling smartphones and other devices, directly to the general public expanded strongly. More than China’s two best-known internet giants, Alibaba and Tencent, combined, the company, Huawei, generated around $105 billion in sales, last year.