Huawei Generated $27 Billion Revenue in Q1 2019

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In Q1 of this year, Huawei generated CNY179.7 billion ($27 Billion) in revenue, a 39 percent year-on-year growth. The company’s net profit margin was about 8 percent, slightly higher than the same period last year, according to its business results released on April 22.

The solid performance came from Huawei’s focus on ICT infrastructure and smart devices. In Q1 2019, Huawei shipped 59 million smartphones.

SEE ALSO: Huawei Tops $100 Billion Revenue, 19.5 Percent Rise in Sales Despite Political Frictions

The next seasons will see large-scale development of 5G technology. By the end of March 2019, Huawei had signed 40 commercial contracts for 5G with global leading carriers, and had shipped more than 70,000 5G base stations to markets around the world.

Also in Q1 2019, Huawei’s Enterprise Business Group launched its Digital Platform and its new “Huawei Inside” strategy. The department also deployed the world’s first 5G-enabled Wi-Fi 6 access point. As of the end of Q1 2019, Huawei had shipped more Wi-Fi 6 products than any other company worldwide.

Another product launched in the season is Huawei Cloud. Huawei Cloud released its AI model market when the services debuted in Singapore. Its one-stop-shop AI development platform – ModelArts – came first in both image classification training and inference in the Stanford DAWNBench deep learning competition.

Featured photo credit to Reuters

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