China's Huawei posts slower first-half revenue growth

In this May 31, 2017, photo, a worker talks on his phone near the logo for Huawei in Beijing. China's Huawei Technology says Thursday, July 2017 that first-half revenues at its telecom equipment and smartphone businesses expanded at a slower pace than the year before. (AP Photo/Ng Han Guan)
In this May 31, 2017, photo, workers fix panels near the logo for Huawei in Beijing. China's Huawei Technology said Thursday, July 2017 that first-half revenues at its telecom equipment and smartphone businesses expanded at a slower pace than the year before. (AP Photo/Ng Han Guan)

HONG KONG — China's Huawei Technology said Thursday first-half revenues at its telecoms equipment and smartphone businesses expanded at a slower pace than the year before.

The company, which is one of the world's biggest telecoms gear makers, reported that sales grew 15 percent to 283.1 billion yuan ($42 billion) in the first six months of the year. That's down from 40 percent growth a year ago.

Consumer sales, which includes Huawei's smartphone unit, expanded 36.2 percent to 105.4 billion yuan ($15.6 billion), compared with last year's 41 percent pace.

Huawei said the numbers were not audited. It did not disclose profit figures.

Its smartphone shipments rose 21 percent to 73 million smartphones in the first half. Huawei is the third world's biggest smartphone maker, with 10 percent of the global market as of May, putting it behind Samsung and Apple, according to research firm IDC.

The company, based in the mainland Chinese city of Shenzhen, next door to Hong Kong, is owned by employees with no publicly traded shares. Founded in 1987 by a former military engineer, it has released financial results in recent years to try to allay security concerns in the United States and Europe.

People also read these

Report: China developing advanced lunar mission...

Mar 9, 2017

State media say China is developing an advanced new spaceship capable of both flying in low-Earth...

China plans panda preserve 3 times size of...

Mar 31, 2017

China plans a preserve for giant pandas that will be three times the size of Yellowstone National...

China's Xi says willing to help end rift with...

May 19, 2017

Chinese President Xi Jinping has said he's willing to help ties with South Korea return to a...

China conducts demolitions at Tibetan Buddhist...

May 19, 2017

Chinese authorities in southwestern Sichuan province have evicted followers and razed scores of...

Foreign doctors deem ill Chinese Nobel laureate...

Jul 9, 2017

Two foreign specialists who visited Liu Xiaobo say the cancer-stricken Nobel Peace Prize laureate...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!