Home / News / Huawei Q1 revenue grows 39% to $27 billion amid heightened U.S. pressure

Huawei Q1 revenue grows 39% to $27 billion amid heightened U.S. pressure

(Reuters) — Huawei Applied sciences stated on Monday its first-quarter income jumped 39 p.c to 179.7 billion yuan ($26.81 billion), within the Chinese language era company’s first-ever quarterly effects.

The Shenzhen-based company, the arena’s greatest telecoms apparatus maker, additionally stated its internet benefit margin was once round eight p.c for the quarter, which it added was once relatively upper than the similar duration ultimate yr. Huawei didn’t divulge its exact internet benefit.

The restricted effects announcement comes at a time when Washington has intensified a marketing campaign in opposition to unlisted Huawei, alleging its apparatus might be used for espionage and urging U.S. allies to prohibit it from development next-generation 5G cellular networks.

Huawei has many times denied the allegations and introduced an exceptional media blitz via opening up its campus to newshounds and making its generally low-key founder, Ren Zhengfei, to be had for media interviews.

The Chinese language company, which could also be the arena’s No. three smartphone maker, stated ultimate week the selection of contracts it has gained to offer 5G telecoms tools greater additional in spite of the U.S. marketing campaign.

By way of the top of March, Huawei stated it had signed 40 industrial 5G contracts with carriers, shipped greater than 70,000 5G base stations to markets around the globe and expects to have shipped 100,000 via Might.

Huawei’s community industry noticed its first drop in income in two years in 2018. However Ren Zhengfei stated in an interview with CNBC previous this month that community apparatus gross sales rose 15 p.c whilst gross sales of the patron industry greater via greater than 70 p.c within the first quarter.

“Those figures display that we’re nonetheless rising, no longer declining,” Ren stated.

Guo Ping, rotating chairman of the corporate, has stated he expects all 3 industry teams – client, provider and endeavor – to submit double-digit expansion this yr.

Huawei additionally stated on Monday it had shipped 59 million smartphones within the first quarter. It didn’t divulge year-ago similar figures, however in keeping with marketplace analysis company Technique Analytics, Huawei shipped 39.three million smartphones within the first quarter of 2018.

(Reporting via Sijia Jiang and Julia Fioretti; Enhancing via Muralikumar Anantharaman)

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