Based on the latest statistics, Huawei is now the third largest smartphone manufacturer in the world and China.
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Chinese tech giant Huawei has announced that it has accelerated its revenue growth in the first six months of the year. Its operating margin was 12 percent.
Huawei stated that it had recorded growth in overseas markets 1.6 times faster than that of mainland China, having further optimised its revenue structure.
Revenue for the period summed up to $36.67 billion, up from $26.25 billion in the same period past year.
H1 smartphone revenue is up 40 per cent over the same period past year despite a recent downturn. It is set to release sales figures for its smartphone business later this week. Even industry experts have favored Huawei to lead the global smartphone market, beating the likes of Samsung and Apple.
Despite the popularity of its smartphone worldwide, the United States has been the one country where it has not been able to establish a footing. This continues growth has resulted in high morale at the company.
Yu had said in June the company’s aim was to hold 25 percent of the global smartphone market within the next five years.
The news comes as Huawei works to position itself as the number one smartphone vendor in the world.
Huawei Consumer Business Group Chief Executive Richard Yu told media representatives that the division is looking to book $28 billion in revenue this year, up from 41 percent last year. Huawei did file a lawsuit against Samsung over their 4G technology patent. The cases were filed in courts of California and Shenzhen. Samsung returned the favor last week when it filed lawsuits in order to protect its intellectual property and claiming $24 million in damages.
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Huawei’s enterprise business continued its focus on innovation in areas such as the Internet of Things (IoT), cloud computing, storage, and SDN products.
