Semi-annual report: Huawei defies US sanctions with revenue growth

by Kelvin
Halbjahresbericht: Huawei trotzt US-Sanktionen mit Umsatzwachstum

Image: Huawei

Huawei today released the financial report for the first half of 2019, which said the company increased its revenue by 23.3 percent over the previous year. According to CEO Liang Hua, sales rose rapidly until May.

In the first half of 2019, Huawei's three major divisions for the carrier, enterprise and consumer businesses generated revenue of 401.3 billion yuan, which equates to the equivalent of € 51.4 billion today. Compared to the same period of the previous year, this represents an increase of 23.2 percent.


US influences growth only in the short term

CEO Liang Hua said on the announcement of the half-year report that, especially by May, sales had risen rapidly. This basis is crucial for Huawei continues to expect growth after the inclusion on the US sanctions list. However, Huawei is not worry-free, although the company says that the US could only slow the pace of growth in the short term.

The Group's strongest division is now the consumer business with smartphones, tablets, notebooks, smartwatches and similar products, which generated sales of 220.8 billion yuan (28.3 billion euros). Overall, Huawei and Honor had sold 118 million smartphones in the first half of the year, an increase of 24 percent compared to the first half of 2018.

Carrier business fully relies on 5G expansion

The carrier business, which used to be Huawei's mainstay, had sales of 146.5 billion yuan. Here Huawei sees above all in the expansion of 5G large growth potential. The company has completed 50 commercial 5G contracts to date and has delivered more than 150,000 base stations to markets around the world. However, Huawei had already communicated these numbers to Computex in June.

Huawei's enterprise business brings together products such as cloud, artificial intelligence, campus networks, data centers, IoT and intelligent computing. Sales here in the first half of the year at 31.6 billion yuan (4.04 billion euros). Huawei says it is a trusted supplier to government customers and utilities, as well as customers in the finance, transportation, energy, and automotive industries.

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