Huawei revenue up 39 percent in Q1
Huawei's revenue rose 39 percent year on year in the first quarter, thanks to booming 5G and smartphone sales, China’s top telecommunications equipment vendor said on Monday.
As a private firm, it is the first time Huawei has posted quarterly figures. Previously, the company reported annually.
In the first three months, its revenue reached 179.7 billion yuan (US$26.8 billion), with a net profit margin running at 8 percent.
This year will see large-scale deployment of 5G around the world, bringing “unprecedented opportunities,” the company said.
By the end of March, Huawei had signed 40 commercial contracts for 5G and shipped more than 70,000 5G base stations.
The world’s No. 2 smartphone vendor sold 59 million units in the first quarter.
During the ongoing Shanghai International Automobile Industry Exhibition, Huawei signed agreements with China Mobile, SAIC and NavInfo on smart transportation and smart driving.