International Finance

Huawei sees unprecedented growth in Q1 despite US political pressure

Huawei growth 2019, Digital China, Huawei 5G deployment, ICT infrastructure
By March end, the company signed 40 commercial contracts for 5G and shipped 70,000-plus 5G base stations

For Huawei, 2019 will be a year of large-scale 5G deployment worldwide. The company said 59 million smartphones were shipped during the first quarter of 2019. By March end, the company had signed 40 commercial contracts for 5G with leading global carriers, and had shipped more than 70,000 5G base stations to markets around the world.

According to the company’s press release, it maintained focus on ICT infrastructure and smart devices, and continued to boost efficiency and improve operations, which contributed to its solid performance in Q1 2019.

During the quarter, the company also launched its digital platform and its new Huawei Inside strategy. The company is deeply committed to building a digital China through its digital platform. Huawei’s Enterprise Business Group also deployed the world’s first 5G-enabled Wi-Fi 6 access point, and shipped more Wi-Fi 6 products than any other company worldwide.

Huawei reported a 39 percent increase to $26.81 billion in its first quarter revenue, despite political tensions with the US. The company’s net profit margin was around 8 percent for the quarter, which is slightly higher than last year’s figure.

All of this has been possible despite alleged reports stating Germany and the UK were making efforts to block Huawei from their 5G networks. In addition, Washington has accused the company of being a security risk, and that its products could be used by the Chinese government for cyber espionage

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