Huawei was among the top five premium smartphone brands in the world in 2018
China-based Huawei has announced its business results for the first quarter of 2019. In Q1 of this year, Huawei claims it generated CNY179.7 billion (Approx $26 billion) in revenue, an increase of 39 per cent year-on-year. The company’s net profit margin in Q1 2019 was about eight per cent.
Huawei said its focus on ICT infrastructure and smart devices has helped contribute to its performance in Q1 2019. Company’s official statement read, “2019 will be a year of large-scale deployment of 5G around the world, meaning that Huawei’s Carrier Business Group has unprecedented opportunities for growth.
It continued, “By the end of March 2019, Huawei had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations to markets around the world.”
59 million Smartphones in Q1 2019
The company said that it was able to ship 59 million smartphones during Q1 2019. It is to be noted here that the company operates two smartphone brands in the world. Huawei and Honor, both had recently organised sales for some of its smartphone offerings in India.
The China-based company has also unveiled P30 and P30 smartphones in many of its international markets. A recent report by Counterpoint Research had said that Huawei was among the top five premium smartphone brands in the world. As opposed to eight per cent share in the premium smartphone segment in 2017, it held 10 per cent share in the same segment in 2018.
Counterpoint’s report read, “Huawei’s strong performance was primarily due to the success of the P20 and Mate 20 series, which focused on camera, power, and design as key differentiating features. It also gained share in the premium segment in China and Europe.”
It continued, “Huawei’s share in the segment reached double digits (10%) for the first time in a calendar year.”
Other business verticals
Huawei’s Enterprise Business Group, in Q1 2019, launched its digital platform and its new “Huawei Inside” strategy. The group also deployed the world’s first 5G-enabled Wi-Fi 6 access point. As of the end of Q1 2019, Huawei had shipped more Wi-Fi 6 products than any other company worldwide. In Q1, Huawei Cloud services were launched in Singapore, and the company released its AI model market too.