Huawei revenue up almost 40% year-on-year

Huawei announces Q1 2019 business results

Huawei revenue up almost 40% year-on-year. Source: shutterstock.com

Huawei today announced its business results for the first quarter of 2019. In Q1 of this year, Huawei generated $26.78 billion (CNY179.7 billion) in revenue, an increase of 39% year-on-year. The company’s net profit margin in Q1 2019 was not disclosed, but the company mentions it was about 8% higher than the same period last year.

The company believes 2019 will be a year of large-scale deployment of 5G around the world, meaning that Huawei’s Carrier Business Group has opportunities for growth. By the end of March 2019, Huawei had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations to markets around the world.

Moreover, in Q1 2019, Huawei shipped 59 million smartphones, launched its cloud services in Singapore and released its AI model to the market.

SEE ALSO: QR-payments and services: prominent examples of usage

Categories: All materials News Tech
facebook