Huawei is reporting a huge increase in revenue, up 19 percent in the first half of 2014. They say that this is in line with their projections. We should not be surprised that the company is growing so well. More and more consumers worldwide are taking notice of what the Chinese company is doing. "Revenue and profit for the first half of 2014 are in line with our expectations. Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband," they said in a statement released on their corporate PR site. Total revenues are up 19 percent year over year, with an operating margin of 18.3 percent.
"Rapid growth in software and services helped maintain steady growth in our carrier network business. Our flagship smartphone, the Ascend P7, is being sold in more than 70 countries and regions," said Huawei's Chief Financial Officer Cathy Meng. The company is experiencing rapid growth in the enterprise sector and they have also "achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide".
We recently reviewed the Huawei Ascend Mate 2 4G and found it to be a solid device at a compelling price point. The company also recently announced a special Arsenal Edition Ascend P7. They are focusing on quality, low-cost, and doing interesting things to snag more attention from consumers.
Huawei, along with other manufacturers like Oppo and Xiaomi, are taking steps to expand globally. Consumers and companies alike are taking notice. Inexpensive, high-end devices make their offerings very appealing. Huawei has a pretty big market share at home and they want more. Research firm IDC says they are the third largest smartphone manufacturer by shipments and have a global market share of 4.9 percent. They've shipped over 80 million phones globally and really focused on the phablet segment, with some good success. They are focusing on growing in foreign markets as they continue to sell more phones at home. "We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials," Cathy Meng said.