Huawei sees first-half revenues soar
Chinese vendor Huawei has reported a 19% increase in revenue for the first half of 2014.
The telecoms equipment manufacturer saw sales rise to $21.9 billion, recording an operating margin of 18.3%, compared to 12.2% in 2013.
Huawei has credited its performance to stronger sales of software and services to carriers, also adding that its efforts in the enterprise business space had “begun to pay off”.
“Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband,” said Cathy Meng, CFO, Huawei. "We are confident that in 2014 we will achieve sustainable growth, robust operations and healthy financials."
It also experienced growth in the consumer market, where it shipped 13.7 million smartphones in the first three months of the year, according to research firm IDC. Huawei did not provide a breakdown of its latest sales figures.
Huawei’s strong performance in the market marks a turnaround since it was first accused of posing a security threat by the US government in 2012, due to its links to the Chinese government and military.
The vendor has since moved to expand its presence globally, most notably receiving support in Europe, where it spent $3.4 billion on procurement in its European operations in 2013.
It has also been at the forefront of investment in LTE-A and 5G technologies, with plans to invest $600 million in 5G research by 2018.