RIYADH — Huawei announced its business results for the first half of 2019: $58.34 billion in revenue, a 23.2% increase over the same period last year. The company's net profit margin for H1 2019 was 8.7%.

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

In Huawei's carrier business, H1 sales revenue reached $21.29 billion, with steady growth in production and shipment of equipment for wireless networks, optical transmission, data communications, IT, and related product domains. To date, Huawei has secured 50 commercial 5G contracts and has shipped more than 150,000 base stations to markets around the world.

Huawei's enterprise business, H1 sales revenue was $4.59 billion. Huawei continues to enhance its ICT portfolio across multiple domains, including cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing. It remains a trusted supplier for government and utility customers, as well as customers in commercial sectors like finance, transportation, energy, and automobile.

In Huawei's consumer business, H1 sales revenue hit $32.1 billion. Huawei's smartphone shipments (including Honor phones) reached 118 million units, up 24% YoY. The company also saw rapid growth in its shipments of tablets, PCs, and wearables. Huawei is beginning to scale its device ecosystem to deliver a more seamless intelligent experience across all major user scenarios. To date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide.

"Revenue grew fast up through May," said Liang. "Given the foundation we laid in the first half of the year, we continue to see 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."

He added "but we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned – including a total of $17.44 billion in R&D this year. We'll get through these challenges, and we're confident that Huawei will enter a new stage of growth after the worst of this is behind us." — SG