Huawei has released its half-year financial report for 2017 and it shows a growing trend for the company. The company’s mobile segment also sees considerable growth as they are expanding their market presence.
The Chinese smartphone giant reported that its half year revenue has increased by 36.2% year-over-year which totals to about $15.6 billion. The growth can easily be credited to the increased sale of its mobile devices in various key markets including China and Europe where Huawei saw 24% and 18% year-over-year growth respectively.
3rd Biggest Smartphone Maker in The World
It has also retained its number 3 spot in the global smartphone market share with approximately 10% of all its shipments in Q1 of 2017.
This is a considerable growth from 8.4% of its shipments from last year’s first quarter. In fact, smartphone sales surged 20.6% year-on-year to 73 million in the first half of 2017. Huawei says that its sale revenue growth is largely due to its flagships products such as the Mate 9, P10, Honor 9 all of which were received well by consumers worldwide.
Our Consumer Business Group continued to deliver extraordinary growth, beating the industry average and penetrating high-end markets around the globe – Richard Yu, CEO Huawei’s Consumer Business Group
World’s Most Valuable Brands
Huawei has risen as one of the world’s most valuable brands. In 2017, Huawei was named number 49 on BrandZ’s Top 100 Most Valuable Global Brands, number 88 in Forbes World’s Most Valuable Brands and number 40 on the Brand Finance Global 500 Most Valuable Brands lists.
Huawei said it is also in line to conducting 5G tests and these global carrier trials as well as its continuing investment in research and development will put it in a unique position to implement new technologies into its consumer devices.