Huawei posts 39 pc revenue growth in Q1 2019

Reporting its first-ever quarterly result, Chinese telecom giant Huawei on Monday said its revenue in the first quarter of 2019 grew 39 per cent to 179.7 billion yuan ($26 billion), showing that the US-led campaign to ban the firm's 5G equipment has had little impact on its businesses worldwide.

Huawei, which is among the tope three smartphone makers in the world besides Samsung and Apple, said it and shipped 59 million smartphones in the first quarter of this year.

The company's net profit margin in Q1 2019 was about eight per cent, slightly higher than the same period last year.

Stating that "2019 will be a year of large-scale deployment of 5G around the world", Huawei said that its Carrier Business Group has unprecedented opportunities for growth.

While the US is pushing for ban on use of Huawei's 5G equipment citing potential security threat, the company has denied these charges.

Huawei's Enterprise Business Group also deployed the world's first 5G-enabled Wi-Fi 6 access point in this quarter. As of the end of Q1 2019, the company had shipped more Wi-Fi 6 products than any other company globally, the company added.

By the end of March, the company also had signed 40 5G commercial contracts with carriers around the globe, with more than 70,000 5G bases shipped to markets around the world.