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April 23, 2019

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Huawei Q1 revenue surges 39%

Huawei’s revenue rose 39 percent year on year in the first quarter, thanks to booming 5G and smartphone sales, China’s top telecommunications equipment vendor said yesterday.

It is the first time Huawei has posted quarterly figures. Previously, the company reported annually.

Q1 revenue was 179.7 billion yuan (US$26.8 billion), with a net profit margin running at 8 percent, slightly higher than in the same period last year. Huawei did not disclose its actual net profit.

This year will see large-scale deployment of 5G around the world, bringing “unprecedented opportunities,” the company said.

By the end of March, Huawei had signed 40 commercial contracts for 5G, shipped more than 70,000 5G base stations around the world and expects to have shipped 100,000 by May.

Huawei continued to see robust growth of its consumer business as its smart devices, led by smartphones, continued to expand market share.

The world’s No. 2 smartphone vendor sold 59 million units in the first quarter. It did not disclose year-ago figures, but according to market research firm Strategy Analytics, Huawei shipped 39.3 million smartphones in the first quarter of 2018.

In 2018, the Shenzhen-based firm raked in 721.2 billion yuan in global sales revenue, up 19.5 percent year on year, while its net profit increased 25.1 percent to 59.3 billion yuan.

Huawei’s network business saw its first drop in revenue in two years in 2018. But founder Ren Zhengfei said in an interview with CNBC this month that network equipment sales rose 15 percent while sales in the consumer business increased by more than 70 percent in the first quarter.

“These figures show that we are still growing, not declining,” Ren said.

Guo Ping, rotating chairman of the company, has said he expects all three business groups — consumer, carrier and enterprise — to post double-digit growth this year.

Founded in 1987, Huawei is a private company fully owned by its employees.

It focuses on providing information and communications technology infrastructure and smart devices.

The company operates in more than 170 countries and regions with more than 180,000 employees.


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