Huawei has announced its financial results for the first half of 2016. The company saw a sales revenue increase of 41.% over the same period last year, with ¥77.4 billion ($11.6 billion), with smartphone shipments up 25% to 60.56 million units.
With this progress, Huawei has captured 11.4% of the global smartphone market. The company has also apparently taken 10% of the market for phones between $500 and $600. It's marketshare in China hit 18.6%, while the company also strong growth in developing markets Latin America and Central Asia.
Huawei Consumer Business Group
First Half Results for 2016 Outperforming the industry with strong overseas growth
July 26 2016, Shenzhen, China – Huawei Consumer Business Group announced today its 2016 half year financial results: Sales revenue in the first half of 2016 increased by 41% year-on-year to CNY¥ 77.4 billion. Smartphone shipments stood at 60.56 million, a year-on-year increase of 25%. According to IDC, global smartphone shipments in the first half of 2016 increased by just 3.1%, indicating that Huawei's growth has significantly outperformed the market.
Huawei Consumer Business Group Chief Executive Officer Richard Yu said, "We saw particularly fast growth in traditionally high-end smartphone markets such as Europe and emerging markets including North Africa, Central Asia & Latin America."
"We have continued to maintain healthy growth within the highly competitive smartphone market, which is testament to Huawei's long-term commitment to innovation, anticipation of consumer trend and dual strategy of focusing on both domestic and international markets. Looking to the future, we will continue to work with our industry partners to offer consumers excellent levels of service and develop innovative new products that combine technology, quality and style."
Optimized revenue structure sees overseas growth surpassing domestic growth
In the first half of 2016, Huawei Consumer Business Group further optimized its revenue structure, resulting that the growth in overseas markets is 1.6 times faster than that of in mainland China. According to GFK, by the end of May 2016, Huawei's share of the global smartphone market reached 11.4%. Among the USD 500-600 smartphone market, Huawei's share has increased by 10%..
Particularly strong results were recorded in European smartphone markets and breakthrough in high end market has been made. According to GFK, Huawei's smartphone market share has reached over 15% in some European countries. In the traditionally high end market, such as UK, Germany and France, Huawei has achieved breakthrough in high end market as well.
In key countries from North Africa and South Pacific, Huawei have gained some breakthroughs on market share. In Egypt, Huawei's smartphone market share has reached over 20% and in New Zealand, Huawei's share has reached over 15%.
Strong sales growth was also achieved in emerging markets in Latin America and Central Asia. In some countries, Huawei's year-on-year smartphone sales has doubled.
In China, Huawei continued to be the industry leader with a market share of 18.6%, according to GFK report in June.
Huawei is focusing on meaningful innovation Having consistently demonstrated significant sales growth, Huawei Consumer Business Group continues to show a deep commitment to innovation in research and development from its R&D centers around the world, alongside repeated breakthroughs with its products, channels and brands.
Huawei's flagship products, such as the P9, Mate 8, Honor V8 and MateBook, have been well-received by consumers worldwide. Sales volume of the Mate 8 increased by 65% when compared with sales of the Mate 7 during the same period in 2015. Furthermore, 4.5 million P9 and P9 Plus devices have also been sold, of which the number of devices sold internationally increased by 120% when compared with sales of the P8 during the same period in 2015. MateBook, Huawei's first 2-in-1 notebook product, has been made available in many countries worldwide, including USA.
Huawei Consumer Business Group continues to uphold its strategic commitments worldwide. As of May 2016, there were 35,000 retail stores around the world offering Huawei products, an increase of 116% on the same period last year. And according to GFK, Huawei global shops coverage has reached about 150 thousand globally.
The brand has endeavored to continue investing marketing resources in sports, lifestyle, fashion and entertainment, amongst other categories, which helps to bring the brand to life and connect with consumers across the globe, increasing awareness and recognition of Huawei worldwide. Huawei also continues to work with many market-leading partners including Leica, Swarovski, Harman Kardon, Audi, Google, Microsoft and Intel, amongst others, to offer consumers advanced industry innovation.
In 2016, Huawei was once again named in the BrandZTM Top 100 Most Valuable Global Brands. Huawei's value of US$18,652 million saw the brand leap from 70th position in 2015 to 50th in 2016.
Huawei is well-positioned to continue its presence in the smartphone, wearable, smart home and cloud markets, becoming itself into an end-to-end solutions and platform service provider, and offering consumers a more convenient and intelligent way to connect their lives.
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