Huawei’s First-Half Revenue up 19% While It Emerges as Major Smartphone Brand

China-based telecommunications equipment maker, Huawei Technologies, has reported a 19% increase in revenues for the first half of 2014 as consumers across the world become aware of its smartphone and tablet offerings, leading to higher sales.

The company said its sales revenue rose 19% year on year to 135.8bn yuan ($21.88bn, £12.8bn, €16.17bn) with an operating margin of 18.3%.

“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,” the company said in a statement.

“Rapid growth in software and services helped maintain steady growth in our carrier network business.”

The company added that it enjoyed “accelerated growth” in the enterprise business and “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.” said Cathy Meng, Huawei’s Chief Financial Officer.

Huawei has been advancing as a major player in the global smartphone market, with its cheap yet feature-rich range of products. While it enjoys a major share in the domestic market, it has been looking to increase sales overseas.

As of the end of the first quarter, the company has been the third biggest smartphone company in terms of shipments, representing a market share of 4.9%, according to research firm IDC.

Huawei intends to ship 80 million smartphones worldwide, helped by its increasing emphasis on large-screen smartphones.

Looking ahead, the company said it will remain committed to innovation and cooperation, creating greater value for customers.

“We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials,” Meng added.

source: Jerin Mathew/international Business Times