Huawei revenues up 30% to $28 billion in H1 results

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By Larry Banks

Chinese company Huawei, one of the largest telecoms equipment makers in the world, just posted a 30% increase in its first-half revenue, to more than 175 billion yuan ($28.3 billion) and said it would achieve effective growth this year.

Huawei grows revenues

The company, which is based in Shenzen, China, mainly competes with Sweden’s Ericsson as the top maker of communications towers and other telecoms infrastructure equipment. It posted an operating margin of 18% in the first half of this year, compared with 18.3% the year earlier. The company did not elaborate further in its statement today:

“Huawei achieved stable and healthy growth in all of its three business segments”, Huawei CFO Meng Wanzhou said, in reference to the company’s telecom, consumer device and enterprise business segments.

“We are confident that we will maintain effective growth and steady and healthy development in all business segments in 2015”.

Earlier this year, Huawei set a target of around 20% growth in its global revenues for the whole year. In 2014, Huawei enjoyed a 19% rise in its first half revenue, and an operating margin of 11.9%.

Huawei targeted overall revenue of $70 billion by 2018, which is around 10% annual growth. Last year, the company posted 21% revenue growth.

SOURCE: Reuters.

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