Huawei Consumer Business Group announced its 2016 H1 financial results recently. Sales revenue in the first half year of 2016 has increased by 41 percent year-on-year to CNY¥ 77.4 billion.
Smartphone shipments stood at 60.56 million, a year-on-year increase of 25 percent. According to IDC, global smartphone shipments in the first half of 2016 increased by just 3.1 percent, indicating that Huawei’s growth has significantly outperformed the market.
Huawei Consumer Business Group Chief Executive Officer Richard Yu said, “We saw particularly fast growth in traditionally high-end smartphone markets such as Europe and emerging markets including North Africa, Central Asia & Latin America.”
“We have continued to maintain healthy growth within the highly competitive smartphone market, which is testament to Huawei’s long-term commitment to innovation, anticipation of consumer trend and dual strategy of focusing on both domestic and international markets. Looking to the future, we will continue to work with our industry partners to offer consumers excellent levels of service and develop innovative new products that combine technology, quality and style.”
Huawei is currently the number two smartphone brand in Sri Lanka and is set to become the island’s number one smartphone brand within the next few quarters. Huawei is marketed by Sri Lanka’s number one brand, Singer Sri Lanka PLC. Huawei is aggressively expecting considerable growth in 2016 as it has achieved outmatched milestones in the previous year as well. Huawei has gained a market share of 23.3 percent according to GFK within the first quarter of 2016 in Sri Lanka further accelerating its market as the number two smartphone brand in the country.
In the first half of 2016, Huawei Consumer Business Group further optimized its revenue structure, resulting that the growth in overseas markets is 1.6 times faster than that of in mainland China.
According to GFK, by the end of May 2016, Huawei’s share of the global smartphone market reached 11.4 percent. Among the US$ 500-600 smartphone market, Huawei’s share has increased by 10 percent. Particularly strong results were recorded in European smartphone markets and breakthrough in high-end market has been made. According to GFK , Huawei’s smartphone market share has reached over 15 percent in some European countries. In the traditionally high end market, such as UK, Germany and France, Huawei has achieved breakthrough in high end market as well.
In key countries from North Africa and South Pacific, Huawei have gained some breakthroughs on market share. In Egypt, Huawei’s smartphone market share has reached over 20 percent and in New Zealand, Huawei’s share has reached over 15 percent, according to GFK .
Strong sales growth was also achieved in emerging markets in Latin America and Central Asia. In some countries, Huawei’s year-on-year smartphone sales have doubled.
In China, Huawei continued to be the industry leader with a market share of 18.6 percent, according to GFK report in June.