Huawei 1H revenue rises 19%

Staff writer
22 Jul 2014
00:00
News
Daily News

Huawei Technology saw its first half-revenue jump 19% while its operating margin also increased from a year earlier, thanks to growth in LTE network gears, smartphone and enterprise business.

Revenue for the first half rose to 135.8 billion yuan ($21.9 billion) from 113.8 billion yuan a year earlier. Operating margin was 18.3%, above its 2013 operating margin of 12.2%.

Huawei said its profit margin also increased year on year from the first half of 2013, but didn't provide the actual figure.

The growth in revenue and profit were in line with Huawei’s expectations, the company said.

Huawei said revenue for all of its business segments, namely carrier network, enterprise network and consumer product (smartphones), increased in the first half, but didn't break down financial results by segment.

“Rapid growth in software and services helped maintain steady growth of our carrier network business in the first half,” said Cathy Meng, chief financial officer.

“Driven by increasing investments in LTE [4G] networks worldwide, Huawei has further solidified its leadership position in mobile broadband.”

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