Tuesday, July 26th, 2016

Huawei’s smartphone sales push profits up to 40%

Jonathan Vikram Pradhan | July 26, 2016 1:51 pm Print
Huawei's flagship products such as the P9, Mate 8, Honor V8 and MateBook have all won significant support from consumers around the world

Riding on smartphone sales like its flagship H1, P9, Mate 8, Honor V8 and MateBook, Chinese smartphone maker Huawei has posted a 40 per cent half-yearly profit.

“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,” androidauthority.com quoted Sabrina Meng, Chief Financial Officer, Huawei, as saying.

“Huawei has also become one of the most favoured brands in nearly 30 countries,” added Meng.

H1 smartphone revenue is up 40 per cent over the same period last year despite a recent downturn.

While the company did not provide a per-division breakdown of the figures, it reported audited sales revenue across its three core businesses of $36.7 billion, the report noted.

Although the reception of the Huawei P9 might not have been as strong as the company would have liked, the upcoming Mate S2 and Mate 9 (expected at IFA 2016 in Berlin in September) will likely set the flagship record straight, the report added.

Producing increasingly sophisticated smartphones is part of Huawei’s strategy to become a high-end smartphone player, which would put the company in a better position to compete with the likes of Samsung and Apple in advanced markets such as the US.