Huawei Consumer Business Group announces H1 results

LAHORE  –  Huawei Consumer Business Group has announced its 2017 first half year financial results: sales revenue for the first six months of 2017 increased by 36.2% year-on-year to CNY105.4 billion. Smartphone shipments also rose to 73.01 million, a year-on-year increase of 20.6%.

Richard Yu, chief executive officer of Huawei’s Consumer Business Group, said, “Our Consumer Business Group continued to deliver extraordinary growth, beating the industry average and penetrating high-end markets around the globe. This ongoing growth is testament to the strength of the Huawei brand and the momentum we’ve built through delivering premium, market-redefining devices that resonate with today’s discerning consumers.”

In Q1 2017, Huawei’s market share rose to 9.8 percent of the global smartphone market, according to industry analysts IDC. This growth was driven by a significant increase in sales of mid-range and high-end smartphones in key geographies. In Greater China, Huawei laid claim to 22.1% of the market where shipments increased by 24percent year-over-year.  Huawei also saw rapid growth in smartphone shipment across Europe, reporting 18percent year-over-year growth with particularly robust performance in Central and Eastern andNordic Europe. The Huawei Consumer Business Group also experienced major breakthroughs in Asia-Pacific markets including Thailand, Malaysia, Japan and South Korea. Russia also grew strongly. Meanwhile, according to the research of GfK and Sino, Huawei’s Honor brand consecutively topped both the Internet smartphone sales volume and sales revenue in China from January to May, 2017.

This year on year growth was reflected in Huawei’s rise as a globally recognized premium brand. 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.