China tele­com gi­ant Huawei first-half rev­enue up 40pc

The Myanmar Times - - International Business -

CHI­NESE telecoms equip­ment gi­ant Huawei said yes­ter­day that rev­enue surged 40 per­cent year-on-year in the first half of 2016, boosted by steady growth in smart­phone sales.

To­tal sales rev­enue reached 245.5 bil­lion yuan (US$36.7 bil­lion) in the Jan­uary-to-June pe­riod, au­dited re­sults re­leased in a com­pany state­ment showed.

The com­pany did not pro­vide a break­down of the fig­ures.

“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,” Huawei chief fi­nan­cial of­fi­cer Sab­rina Meng said.

Huawei is one of the largest providers of net­work in­fra­struc­ture glob­ally, but its con­sumer prod­ucts are less well known out­side of China.

Its con­sumer busi­ness, in­clud­ing smart­phone sales, has strongly sup­ported the com­pany’s per­for­mance, soar­ing 73pc to 129.1 bil­lion yuan last year.

Huawei had more than 8pc of the world smart­phone mar­ket last year, putting it in third place be­hind Sam­sung and Ap­ple, the In­ter­na­tional Data Cor­po­ra­tion (IDC) said in a re­port this year.

Huawei said in the state­ment that its con­sumer busi­ness in the first half of the year “main­tained steady growth glob­ally”. It is set to re­lease sales fig­ures for its smart­phone busi­ness later this week.

The firm said net profit rose 33pc year-on-year in 2015, reach­ing 36.9 bil­lion yuan, adding that rev­enue for the year was 395 bil­lion yuan, a yearon-year in­crease of 37pc.

Huawei is not listed on any stock ex­change but it re­leases fi­nan­cial in­for­ma­tion in the in­ter­est of trans­parency.

US of­fi­cials view Huawei as a se­cu­rity threat due to per­ceived close links to the Chi­nese govern­ment, which the com­pany de­nies. –

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