Chinese manufacturing giant, Huawei recently released its financial report for the first half of the year. The company posted a sales revenue of 401.3 billion yuan, a 23.2% year-on-year increase and an 8.7% net profit margin. Huawei’s smartphone shipments (including Honor) reached 118 million units in the first half of the year. This is a 24% increase year-on-year.
Gizchina News of the week
Despite the external pressure from Huawei in the first half of this year, Huawei’s smartphone business was not seriously affected. Huawei still maintains its growth rate. It is ahead of last year and maintains a strong momentum of development. Regarding the company’s financial report, Huawei founder, Ren Zhengfei, pointed out in his recent speech that “the operation of Huawei in the first half of the year looks very good. It should be that customers in China sympathize with us and pay the payment in time.” However, Ren Zhengfei also pointed out that Huawei can’t take it lightly, saying that “the sales volume in China is large and it seems to have a lot of cash flow…”
Ren Zhengfei emphasized that this year’s financial statements may be better. The company will continue to increase strategic investment, speed up the purchase of important equipment and update relevant devices and software. The company believes that to remain relevant, it must be current with the emerging trends in the smartphone industry.