Huawei has officially announced its financial result for the first half of the year 2019. The report shows the company still continues to grow despite the US ban. The Chinese tech giant aggregate revenues increased by 23.2% year over year. The firm’s combined H1 revenues from the three sectors of consumer business, carrier and enterprise business stood at 401.3 billion yuan which is about USD $58.3 billion.

The Consumer business arm contributed almost half of the entire revenue. The consumer business arm brought in 220.8 billion yuan ($32.1 billion). Huawei was able to rake in so much due to an impressive 118 million smartphone shipments from both the Huawei and Honor brands. This is a solid 24% increase over the firm’s performance during the same period last year. Other notable consumer product categories with rising shipments are the PC, tablet and wearable devices.

Solid performance & stable business growth. This year, Huawei experienced a YoY growth of 23.2%, achieving CNY401.3bn in revenue. Learn more about our 5G rollout progress here: https://t.co/1d3rgmFkpY pic.twitter.com/VkMVWBxDca

— Huawei (@Huawei) July 30, 2019

The result also shows the carrier business recorded a revenue increase of 146.5 billion yuan ($21.3 billion). No doubt, 5G equipment and infrastructures contributed to this figure and we expect that to keep growing as Huawei 5G equipment gets deployed around the world. The company has secured 50 commercial contracts and shipped more than 150,000 base stations across the world.

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From the enterprise sector with portfolios such as IoT, data centres, and cloud computing, Huawei racking in a total of 31.6 billion yuan ($4.6 billion). The company has retained ties with corporations based in the finance, transportation, energy, and automobile sectors.

Huawei’s Chairman Liang Hua commented that the company is as strong as its ever been and credits that to the excellent management and perseverance despite the political tensions between the U.S. and China. In addition, he believes Huawei will enter a new stage of growth after the hardships faced in the first half of 2019.

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(source)

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