Despite the U.S.’ attempt to prevent the company from becoming a global giant it’s rapidly evolving into, Huawei seems to be on a roll and continues to make strides. The Chinese company recently revealed that its overall revenue grew 39 percent year over year in the first quarter of 2019. Needless to say, the company is off to a smashing start and it doesn’t appear that the ball will stop rolling here.
The firm said today that revenue in the first quarter of 2019 grew 39 percent year-on-year to reach $26.78 billion. Huawei didn’t reveal a net profit but it said that its net profit margin was eight percent, which is “slightly higher” than the same time in the previous year. During the quarter, Huawei said it shipped 59 million smartphones, while it added that, as of the end of March, it had signed 40 commercial 5G contracts and shipped more than 70,000 base stations to support 5G networks worldwide.
The company cemented its status as the largest telecom equipment producer and claims it managed to increase its number of 5G network contracts with 40 new carriers. The report reveals that the company shipped more than 70,000 base stations around the world and aims to up that number to 100,000 by May. As a whole Huawei’s network business saw a 15% increase in sales.
According to the report, more than 1 million enterprise users and developers are now using Huawei cloud services. The company’s AI developments are also gaining traction as they managed to top the charts at the Stanford DAWNBench deep learning competition.