- Huawei's revenue growth for the quarter was 39%, reaching almost $27 billion, and profit increased by 8%.
- Smartphone shipments reached 49 million units over a three-month period.
- The company manages to conclude new contracts and increase supplies, despite active opposition from the United States.
- In 2019, revenue is expected to double in three key areas of Huawei's activities.
Huawei Technologies said Monday that its first-quarter revenue jumped an impressive 39% to 179,7 billion yuan (approximately $26,8 billion). It is reported that we are talking about the first public quarterly report in the history of a technology company.
The Shenzhen-based world's largest telecoms equipment maker also said net profit growth for the quarter was about 8%, adding that this was higher than the same period last year. Huawei did not disclose the exact amount of net profit.
On Monday, the manufacturer also reported that it shipped 59 million smartphones in the first quarter. Huawei did not disclose comparable figures for last year, but according to research company Strategy Analytics, the manufacturer managed to ship 39,3 million smartphones in the first quarter of 2018.
The partial financial results report comes amid increasing pressure on the company from Washington. The US government says Huawei equipment could be used by Chinese authorities for espionage and is urging its allies around the world not to buy equipment from the Chinese manufacturer to build next-generation 5G mobile networks.
Huawei has repeatedly denied the allegations and launched an unprecedented media campaign, opening its campus to journalists and allowing members of the media to interact with the tech giant's humble founder and president, Ren Zhengfei. There are, however, as if Huawei's ownership structure suggests subordination to the Chinese Communist Party. And the CIA, referring to the documents it has, completely that the founders and main investors of Huawei are the Chinese military and intelligence.
The Chinese company, which is also the world's third-largest smartphone maker, said last week that the number of contracts it already has for 5G telecom equipment has increased further since the US campaign began.
At the end of March, Huawei said it had signed 40 commercial contracts for the supply of 5G equipment with telecom operators, shipped more than 70 next-generation base stations to markets around the world and plans to ship about 100 more by May. It's worth noting, however, that in 2018, the consumer business became Huawei's top revenue source and primary growth driver for the first time, while sales in the key networking equipment sector declined slightly.
At the same time, in a recent interview with CNBC, Mr. Zhengfei said that in the first quarter of 2019, sales of network equipment increased by 15% compared to a year ago, and consumer business revenues increased by more than 70% over the same period. “These numbers show that we are still growing, not stagnating,” the Huawei founder said.
Guo Ping, the company's rotating chairman, said internal forecasts show all three key business groups - consumer, carrier and enterprise - will post double-digit growth this year.
Source: 3dnews.ru