Huawei made Sh6 trillion in first half of 2019

Huawei has announced its business results for the first half of 2019: CNY401.3 billion (Sh6.073 trillion) in revenue, a 23.2 per cent increase over the same period last year. The company's net profit margin was 8.7 per cent.

According to Huawei's 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, Huawei's business has remained robust in the first half of 2019.

The smartphone firm's carrier business, H1 sales revenue reached CNY146.5 billion (Sh2.217 trillion), 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.

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In its enterprise business, the sales revenue was CNY31.6 billion (Sh478.5 billion). The firm continues to enhance its ICT portfolio across multiple domains, including cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing. It remains a trusted supplier for government and utility customers, as well as customers in commercial sectors like finance, transportation, energy, and automobile.

Its consumer business sales revenue hit CNY220.8 billion (Sh3.344 trillion). Huawei's smartphone shipments (including Honor phones) reached 118 million units, up 24 per cent. The company also saw rapid growth in its shipments of tablets, PCs, and wearables. The company is beginning to scale its device ecosystem to deliver a more seamless intelligent experience across all major user scenarios. To date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide.

"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."

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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 CNY120 billion (Sh1.816 trillion) 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."

1 CNY (Chinese Yuan) = Sh15.1429 (Kenyan Shillings, KES)

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