Huawei announced its business results for the first half of 2017 and the figures are encouraging for the Chinese tech giant.
In the first six months of this year, all companies within the group generated revenue of CNY283.1 billion (€35.8 billion/$42 billion), an increase of 15% over the same period last year. The company’s operating margin was 11%.
De comsumer goods division, Huawei Consumer Business Group, the one that produces smartphones has generated a sales revenue increased by 36.2% year-on-year to CNY105.4 billion (€13.3 billion/$15.5 billion). Smartphone shipments also rose to 73.01 million units, a year-on-year increase of 20.6%.
“Our Consumer Business Group continued to deliver extraordinary growth, beating the industry average and penetrating high-end markets around the globe. This ongoing growth is testament to the strength of the Huawei brand and the momentum we’ve built through delivering premium, market-redefining devices that resonate with today’s discerning consumers”, said, in a press release, Richard Yu, chief executive officer of Huawei’s Consumer Business Group.
In Q1 2017, Huawei’s market share rose to 9.8 percent of the global smartphone market, according to industry analysts IDC. This growth was driven by a significant increase in sales of mid-range and high-end smartphones in key geographies.
In Greater China, Huawei laid claim to 22.1 % of the market where shipments increased by 24 percent year-over-year. Huawei also saw rapid growth in smartphone shipment across Europe, reporting 18 percent year-over-year growth with particularly robust performance in Central and Eastern and Nordic Europe.
The Huawei Consumer Business Group also experienced major breakthroughs in Asia-Pacific markets including Thailand, Malaysia, Japan and South Korea. Russia also grew strongly. Meanwhile, according to the research of GfK and Sino, Huawei’s Honor brand consecutively topped both the Internet smartphone sales volume and sales revenue in China from January to May, 2017.
This year on year growth was reflected in Huawei’s rise as a globally recognized premium brand. In 2017, Huawei was named number 49 on BrandZ’s Top 100 Most Valuable Global Brands, number 88 in Forbes World’s Most Valuable Brands and number 40 on the Brand Finance Global 500 Most Valuable Brands lists.