Huawei bucks trend with revenue boost
Print Edition
HUAWEI Technologies Co more than doubled its China smartphone revenue in the first half of this year, defying a slowdown in the world’s biggest handset market that is enveloping rivals Xiaomi Inc and Samsung Electronics Co.
The world’s fourth-largest smartphone maker missed shipment targets for two years, but a focus shift to high-margin premium models pushed its January-June global shipments to 48.2 million phones, the company said yesterday.
That puts it on course to move 100 million mobiles this year, 33 percent more than last.
The turnaround came almost three years after Shenzhen-based Huawei decided to shed its budget appeal and challenge Samsung and Apple Inc at the high-end of the market, where analysts said an increasing number of previously price-conscious Chinese consumers are willing to spend their money.
In contrast, overall smartphone shipments in China shrank for the first time in six years in the first quarter, and one-time leader Xiaomi booked its first fall in sequential semi-annual sales, saying the domestic market is nearing saturation.
“There’s a buzz going around Huawei in China right now and it’s being increasingly associated with better product quality,” said Bryan Ma, researcher IDC’s Asia-Pacific vice president.
Behind the success is convincing consumers that it is worth paying more for its feature-packed devices, Ma said.
Its first-quarter mean selling price jumped to US$222 from US$128 a year earlier, he said.
Huawei’s consumer business group, which includes smartphones, booked global revenue of US$9.1 billion for the first half, up 69 percent on year.
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