Huawei Smartphone Sales Soared 25%; next target Apple

Huawei Smartphone Sales Soared 25% Year over Year; next target Apple

Editor: Vladimir Bajic | Tactical Investor

Huawei Smartphone Sales Soared

Western governments may be piling the pressure on Huawei but that’s not holding back its fast-growing smartphone business.

A senior executive at the Chinese tech company said Thursday that Huawei expects to displace Samsung as the world’s top smartphone seller by the end of 2020. It took second place from Apple in the middle of last year.

“This year at the soonest, next year at the latest, we will become number one,” Richard Yu, CEO of Huawei’s consumer business, told reporters in Beijing.

Yu said Huawei sold over 200 million smartphones in 2018, up about 30% from the previous year. The company also sold more than 100 million smart devices, including tablets and wearables, he added.

The spike in sales resulted in revenue from Huawei’s consumer business rising to $52 billion — an increase of more than 40%.

Huawei smartphones are hugely popular in China, as well as other Asian countries like Japan, Malaysia and Thailand, according to the company’s most recent annual report. The company also features among the top three brands in countries such as the UAE, South Africa and Mexico, and its sales in Europe have been growing. Full story

Huawei Smartphone Sales Soared  and revenue up 40%

Huawei was outed this week by CIA intelligence for allegedly receiving “funding from branches of Beijing’s state security apparatus… American intelligence shown to Britain says that Huawei has taken money from the People’s Liberation Army, China’s National Security Commission and a third branch of the Chinese state intelligence network.”

But that hasn’t disrupted the company’s unstoppable growth. On Monday, the company announced business results for the first quarter of 2019 that showed revenues up almost 40% year-on-year to CNY179.7 billion (US$ 27 billion), with net profits up as well, albeit more marginally. This follows results for 2018 that saw revenues up 19.5% and profits up 25%.  Full Story

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