Huawei’s H1 revenue up 19 percent year-on-year at $22bn

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TAIPEI – Huawei Technologies Co Ltd, the world’s No. 2 telecom equipment maker, said Monday will achieve sustainable growth in 2014 after posting a 19 percent jump in first-half revenue to 135.8 yuan ($21.88 ).

The Shenzhen-based also said expected to generate an operating margin of 18.3 percent in the first six months of 2014. The did not elaborate in its brief statement.

“Driven by increasing investments in LTE networks worldwide, Huawei has solidified its leadership position in broadband,” Huawei’s CFO Cathy Meng said in the statement.

“Rapid growth in software and helped maintain steady growth in our carrier network .” [eap_ad_2] Meng said Huawei achieved “sustainable growth” in its consumer , which includes smartphone manufacturing, thanks to better brand awareness.

Huawei’s sales growth in the first half, which the said in line with its expectations, comes after a 222 percent to 270 percent jump in first-half net profits flagged by cross-town competitor ZTE Corp last week.

ZTE attributed the growth to improving margins and revenue new contracts for ’s next-generation telecoms network.

Last year, Huawei a 10.8 percent rise in its first-half revenue. The company 12.2 percent growth in its operating margin in 2013.

Huawei earlier this year a target revenue of $70 yuan by 2018, or annual growth of about 10 percent a year, after posting 8.6 percent growth last year.[eap_ad_3]