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Huawei revenues grow by 40%, sets global target of $75 billion for 2016

Huawei Technologies Co Ltd., one of the largest telecom equipment maker in the world from China, released its first half of the year’s sales revenue details. Taking a look at that, it appears that the company is doing extremely good, compared to its stats from previous year or so. Yes, the company is doing well in terms of its sales, and they seem very contended as to where the company is moving towards. According to the sales figure posted by them, it appears that the firm saw a 40 percent rise in the first-half sales for this year.

The company also stated that it would “maintain the current momentum” this year. As far as the number are concerned, the sales revenue reached 245.5 billion Yuan (which is roughly $36.8 billion). This is for the first six months of 2016. Also, the operating margin saw a downfall to 12 percent from 18 percent in the previous half-year. As stated by the company, it hopes to keep the momentum going and round out the full year effectively with being in a positive financial position which will be backed by its on-going operations.

The company directly competes with Ericsson, a Sweden-based telecom equipment manufacturing company as well, for the top spot in the global market for the same. However, the company did not elaborate any of its plan for the coming months till the end of the year on how they expect to perform. At the start of the year, when the company set year targets for the year 2016, it expected a $75 billion by the end of 2016. So at this point in time, it is likely to achieve the target that it set out to achieve. Also last year, Huawei reported a 30 percent increase in the first half of the year at around the same time.

We hope that the company will manage to achieve a steady growth across its three business groups i.e. consumer, device, and enterprise; which will eventually reflect it’s global presence. Let’s see where the company will land in coming months. As of now the company is planning to launch it’s latest smartphone P9 in India next month. Stay tuned for more info like this.

By Karthik Iyer on Tuesday 26th of Jul 2016


SOURCE Reuters
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