Huawei has today revealed its half-year financial results for 2017, and it shows continued growth for the company. Not only is the company as a whole growing, but Huawei’s mobile segment continues to expand as it reaches new regions.
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Huawei CEO Richard Yu had the following to say regarding the company’s growth:
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.
Huawei reports that its smartphone market share in Q1 of this year grew by 9.8%, with a 20.6% year-on-year increase in smartphone shipments, totaling 73.01 million. The company’s sales revenue for the first six months of this year also grew by over 36% from the previous year to CNY 105.4 billion.
The company’s growth in the smartphone market can easily be attributed to increased sales of its more expensive devices in key markets. That includes China and Europe, where the company saw 24% and 18% year-over-year growth respectively. Entering the US market with the Mate 9 also contributed to the growth.
Huawei shared some growth efforts for the future, including the opening of more retail stores (reaching 56,000 worldwide by the end of 2017) and further efforts in AI and its various research projects.