Huawei grows 1H16 revenue by 40%

25 Jul 2016
00:00
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Daily News

Huawei grew its sales revenues for the first half of the year by 40% to 245.5 billion yuan ($36.6 billion), despite a decline in its operating margin.

The vendor reported an operating margin of 12%, down from 18% in the same period last year, partly as a result of increased investment in the company's smartphone business as part of an aggressive push to become the market leader in 4-5 years.

"We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence and an unwavering focus on our pipe strategy," Huawei's CFO Sabrina Meng commented.

"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 has not yet disclosed its profit for the half-year period. Looking ahead, the company said it plans to continue to adhere to its pipe strategy, and invest heavily in R&D in areas including 5G and the IoT.

In the carrier business, Huawei said it is focusing its attention on supporting operators' digital transformation in four core areas - business, operations, architecture, and networks.

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