2018 seemed like a tough year for Huawei. Its squabbles with the United States Government have not gone unseen. But the telecommunications giant has kept its head up all this time. Huawei released their financial report for the first half of 2018 today and it’s downright impressive. It has reported a gross sales revenue of 325.7 billion Yuan. The sales figure represents a 15% increase over last year’s revenue in the first half. The figures also show an operating profit margin of 14%.
The company has risen from its 83rd position in 2017 to 72nd this year on the Forbes Fortune 500 companies list. Huawei’s rise in the ranks and revenue can be attributed to their ever-increasing catalogue of devices on the market. The company has apparently remodelled its business strategy. Huawei’s Consumer Business arm has gone to lengths to ensure value for customers through their products. Huawei reportedly provides solutions in over 170 countries and regions, serving about one-third of the world’s population. About 211 of the Fortune 500 which includes 48 out of the top 100 companies globally have chosen Huawei as a partner in digital transformation.
The Chinese company has been giving tough competition to Apple and Samsung with their cost-effective and feature-rich smartphones. It won’t be long before Huawei catches up with them.