YOU ARE AT:5GHuawei revenue up 40% in first half of 2016

Huawei revenue up 40% in first half of 2016

Huawei generated revenue of $36.7B during the period

Chinese information and communications technology solutions provider Huawei generated sales of 245.5 billion yuan ($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 CFO 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 software-defined networking products, and safe city and electric power ‘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.

ABOUT AUTHOR

Juan Pedro Tomás
Juan Pedro Tomás
Juan Pedro covers Global Carriers and Global Enterprise IoT. Prior to RCR, Juan Pedro worked for Business News Americas, covering telecoms and IT news in the Latin American markets. He also worked for Telecompaper as their Regional Editor for Latin America and Asia/Pacific. Juan Pedro has also contributed to Latin Trade magazine as the publication's correspondent in Argentina and with political risk consultancy firm Exclusive Analysis, writing reports and providing political and economic information from certain Latin American markets. He has a degree in International Relations and a master in Journalism and is married with two kids.