Huawei achieves H1 growth of 19% at $21 bn

Huawei Beijing: Sales revenue of China's telecom major Huawei has reached over USD 21 billion in the first six months of this year, a 19 percent increase compared over the same period last year, the company announced here on Monday.

The Shenzhen based firm, in a statement, said that in the first six months of this year, Huawei generated sales revenue of RMB 135.8 billion (USD 21.85) an increase of 19 percent year-on-year with an operating margin of 18.3 percent.

"Revenue and profit for the first half of 2014 are in line with our expectations. Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband," Cathy Meng, Huawei's Chief Financial Officer said.

Rapid growth in software and services helped Huawei maintain steady growth in network business.

"Our efforts in the enterprise business have begun to pay off. We have enjoyed accelerated growth in this area. We also achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide", the statement quoted Meng as saying.

Huawei's flagship smartphone, the Ascend P7, is being sold in more than 70 countries and regions, she said She said.

"We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials," she added.--PTI