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Xinhua Silk Road
CLASS

5G is driving Huawei revenues in the first quarter

April 26, 2019


Abstract : Huawei Technologies closed the first quarter with revenue up 39% to 179.7 billion yuan (26.81 billion dollars) thanks to further advances in the 5G technology business.

MILAN, Apr 22 (Class Editori) -- Huawei Technologies closed the first quarter with revenue up 39% to 179.7 billion yuan (26.81 billion dollars) thanks to further advances in the 5G technology business. Huawei is the world's largest telecommunications equipment manufacturer and is a dominant provider of 5G network technology, whose launch in many markets, including Italy, will start this year.

Although Huawei is privately owned, the Shenzhen-based company publishes a detailed controlled financial report annually. The revenues reported are Huawei's first quarterly update, which did not include the net profit and detailed results for its separate business lines.

Huawei has stated that its consumer business, which includes smartphones, tablets and other gadgets, has continued to progress well with 59 million smartphones delivered in the quarter. Huawei is preparing to launch a 2,600 dollars foldable smartphone, the Mate X, to compete with Samsung's Galaxy Fold, even though its smartphones are not actually available to US consumers.

Huawei has been the target of a US campaign to prevent allies from using its equipment in their 5G networks. Huawei equipment is, in fact, included in the United States black list, which claims to be a threat to computer security. Australia and New Zealand have taken measures to limit the use of Huawei devices, although it remains an important supplier in Europe.

Huawei claims instead that its equipment is safe and has organized a series of press events to reject the campaign, claiming that the company has been unfairly targeted. Earlier this year, Huawei filed a lawsuit against a US law prohibiting federal agencies from buying its products.

The first quarter results indicate that Huawei continues to beat its main Western rivals, mainly the Finnish Nokia and the Swedish Ericsson, although these companies have tried to capitalize on the American campaign against Huawei.

Nokia said that revenue declined slightly last year, while Ericsson revenues increased by only 2.6%. Neither company still has a division working in the design and construction of consumer devices, which last year instead became the main one for Huawei in terms of turnover, having exceeded that of network equipment.

(Source:Class Editori)

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