Huawei has released its financial results for the first half of 2017 (H1) and it seems that the Chinese electronics giant’s march towards being household recognition is continuing unabated thanks to its sales revenue increasing by 36.2% ($15.58 billion) and increased smartphone sales. Despite these impressive numbers, sales growth has slowed in comparison to 2016. Join us after the break for more details on Huawei’s H1 results and a nifty little infographic.
Huawei managed to ship 73.01 million smartphones in the first half of 2017, an increase of 20.6% year-on-year. In Greater China, Huawei has achieved a market share of 22.1%, with smartphone shipments growing 24% year-on-year while in Europe, smartphone shipments went up by 18%. In SouthEast and Central Asia, shipments went up by 52%. Interestingly, shipments went up by 47% in Japan and South Korea, a fact that you can bet Samsung is aware of. Huawei’s budget e-brand, Honor, achieved the top spot in terms of internet sales in China between January and May this year.
In terms of brand recognition, Huawei is now 88th in the Forbes list of the World’s Most Valuable Brands and 40th in the Brand Finance 500 list. In layman’s terms, the Chinese company is making its name know, but the holy grail of the US market is still not quite in its grasp. The company’s latest flagship, the Huawei P10, wasn’t released in the States, although it has gone on sale in Canada. The American market represents a difficult task for Huawei, thanks to the bargaining power of the carriers and the reluctance of the US consumer to buy unlocked phones in any great numbers. It will be interesting to see if the Mate 10 launches in the US in the last quarter of 2017.
Richard Yu, chief executive of Huawei’s Consumer Business Group said, “Huawei devices have resonated with global audiences because of our clear commitment to quality, experience and innovation. With a robust consumer devices ecosystem that includes critically acclaimed smartphones, tablets, wearables and now PCs, consumers know that they can trust Huawei to deliver the kind of experience they’re looking for in a premium device.”
Back to the numbers, though, Huawei currently has 42,300 retail outlets and plans to reach the 56,000 mark by the end of the year. In terms of customer satisfaction, Huawei ranks number one in its native China, Poland, Mexico, Egypt, and Indonesia. It’s clear that while Huawei still has a lot to do in terms of achieving its aim of becoming a household brand globally, the Chinese company is still making significant progress, just maybe not quite as quickly as it would like.