Huawei Releases H1 Results: Report Shows Revenues Up By 23.2% YoY

Despite the ongoing US ban, Huawei announced that its revenue grew 23.2 percent to reach 401.3 billion yuan ($58.31 billion) in the first half of 2019.

According to Huawei's Chairman, Liang Hua the operations are smooth and the organization is as sound as ever. With effective management and excellent performance across all financial indicators, Huawei's business has remained robust in the first half of 2019.

Huawei Consumer Business

Huawei's consumer business posted a revenue of CNY220.8 billion ($32.1 billion) with 118 million smartphone shipments up which is 24 percent more than last year. The company also saw rapid growth in its shipments of tablets, PCs, and wearables.

Till date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide, the company informed.

"Revenue grew fast up through May," said Liang. "Given the foundation, we laid in the first half of the year, we continue to see the growth even after we were added to the entity list. That's not to say we don't have difficulties ahead. We do, and they may affect the pace of our growth in the short term."

The company reported CNY31.6 billion (($4.6 billion).) in its enterprise business including cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing.

Furthermore, the carrier business racked in CNY 146.5 billion ($21.3 billion) as Huawei continues to develop 5G equipment and infrastructure. The company has secured 50 commercial contracts and shipped more than 150,000 base stations across the world.

Secured 50 Commercial 5G Contracts

Meanwhile, the telecom equipment and smartphone giant announced that it has secured 50 commercial 5G contracts and have shipped more than 150,000 base stations to customers around the world.

While announcing Huawei' s 5G dvelopments, Liang intimated that Huawei is the leader in global 5G rollout. The company have secured 50 commercial 5G contracts and they hace shipped more than 150,000 base stations to customers around the world.