25 April 2019
Chinese smartphone maker Huawei has seen a number of problems in the last year. However, these have not stopped the company from having a monstrous growth in its consumer electronics business last year. The company sold over 200 million handsets last year and is expected to have an amazing year in 2019 as well.
The Chinese giant has stated that it has generated revenue of 179.7 billion yuan in Q1, 2019, which is a 39% year-on-year growth. The smartphone maker has the company has revealed that it has shipped 59 million units in Q1 ending in March 2019. The company has set a target of shipping over 250 million smartphones this year.
A Huawei executive recently stated that Huawei and Honor together would lead the smartphone company globally in the coming years. Currently, South Korean giant Samsung is dominating the smartphone industry followed by US-based Apple Inc.
Huawei also plans to make aggressively priced Honor smartphones, and improve its production line, supply chain, and retail operations. The company has also stated that it will continue to invest in innovative technologies.
The company has also seen a significant boost in its telecom business due to the commercialization of 5G technology. 2019 represents a great opportunity for tech companies with 5G communication commercialisation. Huawei has signed 40 5G commercial contracts in March this year, which makes it the leader in telecom operations. It has more than 70,000 5G base stations across the world to deploy 5G tech.