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Technology

Despite US ban, Huawei revenue jumps 23.2% in H1 2019

Shenzhen, July 30

Despite the trade war between the US and China, Chinese smartphone giant Huawei's revenue for H1 2019 increased 23.2 per cent to touch 401.3 billion yuan (approximately $58.3 billion), the company announced on Tuesday.

The company's net profit margin for H1 2019 was 8.7 per cent.

According to Huawei's Chairman Liang Hua, operations are smooth and the organisation is as sound as ever. 

With effective management and an excellent performance across all financial indicators, Huawei's business has remained robust.

In Huawei's consumer business, H1 sales revenue hit 220.8 billion yuan (approximately $32.08 billion).

"Huawei 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," said the company.

Huawei's smartphone shipments, including HONOR phones, reached 118 million units, up 24 per cent year on year (YoY). 

"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," said Liang.

"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 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," he added.