Home5GHuawei revenue up 40% in first half of 2016

Huawei revenue up 40% in first half of 2016

Huawei generated revenue of $36.7 billion during the period

Chinese ICT solutions provider Huawei generated sales of CNY 245.5 billion ($36.7 billion) in the first half of 2016, representing an increase of 40% compared to the same period in 2015, the vendor said in a statement.

The company’s operating margin was 12%. “We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence and an unwavering focus on our pipe strategy,” said Chief Financial Officer Sabrina Meng. “We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations.”

Cloud computing, storage, and SDN products, and safe city and electric power IoT [internet of things] solutions, have been widely adopted in sectors such as finance, power, transport, public security, education and media.

Huawei also reported a steady growth in its consumer business, as its flagship products, such as the P9, Mate 8, Honor V8 and MateBook, have all won significant support from consumers around the world.

In the carrier business, the Chinese ICT vendor said it is working to support telecom operators’ digital transformation across four core areas: business, operations, architecture and networks. “The company is driving development of cutting-edge technologies such as 5G and IoT, which promise to reshape the role of telecom operators in the economy and across numerous industries,” the Chinese firm said.

As Huawei reports strong financial position, major competitor Ericsson is going through a massive cost-cutting plan and today CEO Hans Vestberg stepped down effective immediately.

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