Huawei announces 19% increase in sales revenue for first half of 2014

Sales revenue reaches £12.8bn driven by sales of 4G LTE infrastructure and sales of flagship Ascend P7smartphone

Huawei announces 19% increase in sales revenue for first half of 2014

Huawei’s operating performance for the first half of 2014 saw sales revenues of CNY135.8 billion (£12.8bn), an increase of 19% year-on-year with an operating margin of 18.3%.

In comparison, rival mobile infrastructure vendor Ericsson announced its half year results last week (18 July 2014) posting net sales of SEK 102.4bn (£8.7bn) – some £4bn less than Huawei - although the latter’s sales are boosted by the fact that unlike Ericsson it still has a mobile handset division.

Cathy Meng, Huawei’s chief financial officer, commented: “Revenue and profit for the first half of 2014 are in line with our expectations. Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband. Rapid growth in software and services helped maintain steady growth in our carrier network business.

“Our efforts in the enterprise business have begun to pay off. We have enjoyed accelerated growth in this area. We also achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide. Our flagship smartphone, the Ascend P7, is being sold in more than 70 countries and regions. We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials.”

Looking ahead, Huawei said it will remain committed to open innovation and cooperation, creating greater value for our customers, advancing the ICT industry, and ultimately contributing to the building of a better connected world.

See also: Ericsson posts sharp rise in net profit on stable revenues for Q2 2014

Nokia revenue falls 7% in Q2 2014, but expected to strengthen by year end

 

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