Huawei Releases Financial Report for H1 2017; Sales Revenue Increases 36.2% YoY
We are starting to see a number of financial reports come out from smartphone OEMs right now, as they try to give us and their investors a look at their past workings. Samsung recently announced theirs and allowed them to take claim of the largest maker of chipsets when they surpassed Intel. LG released theirs recently and it showed that they are continuing their downward trend as they lost over $115 million for the quarter.
Things are looking better for Huawei though, as they’ve been able to increase sales revenue by 36.2% compared to the same time period last year. This figures is from Huawei’s H1 2017 report so it counts all of the sales the company has done during the first half of the year. During this time frame, Huawei has been able to bring in $15.65 billion in sales revenue. The company says its smartphone shipments have increased over 20% when compared to last year, coming in at 73.01 million units. Some reports claim Huawei took up about 9% of the global smartphone market, but the company says they had 22.1% market share in Greater China alone.
When breaking things down regionally too, Huawei says they were able to increase sales all across Europe by 18% compared to the first half of last year. This type of growth is definitely important for the company as they are still trying to increase their market share all around the world. The company knows that in the United States, they need to build up their relationships with mobile carriers and they’re doing this right now with AT&T.
As we look at the overall revenue for Huawei during the first half of the year, the company was able to bring in $42.04 billion, at an operating margin of 11%. The company says they will continue expanding their retail presence throughout the year, planning to reach 56,000 stores worldwide by the end of 2017 (up from 35,000 in May of last year). Huawei is also looking to invest in artificial intelligence and machine learning as it will help drive the upcoming “smart era” of technology.Source: Huawei