China's Huawei posts slower first-half revenue growth

In this May 31, 2017, photo, workers fix panels near the logo for Huawei in Beijing. China's Huawei Technology said Thursday, July 2017 that first-half revenues at its telecom equipment and smartphone businesses expanded at a slower pace than the year before. (AP Photo/Ng Han Guan)
In this May 31, 2017, photo, a worker talks on his phone near the logo for Huawei in Beijing. China's Huawei Technology says Thursday, July 2017 that first-half revenues at its telecom equipment and smartphone businesses expanded at a slower pace than the year before. (AP Photo/Ng Han Guan)

HONG KONG — China's Huawei Technology said Thursday first-half revenues at its telecoms equipment and smartphone businesses expanded at a slower pace than the year before.

The company, which is one of the world's biggest telecoms gear makers, reported that sales grew 15 percent to 283.1 billion yuan ($42 billion) in the first six months of the year. That's down from 40 percent growth a year ago.

Consumer sales, which includes Huawei's smartphone unit, expanded 36.2 percent to 105.4 billion yuan ($15.6 billion), compared with last year's 41 percent pace.

Huawei said the numbers were not audited. It did not disclose profit figures.

Its smartphone shipments rose 21 percent to 73 million smartphones in the first half. Huawei is the third world's biggest smartphone maker, with 10 percent of the global market as of May, putting it behind Samsung and Apple, according to research firm IDC.

The company, based in the mainland Chinese city of Shenzhen, next door to Hong Kong, is owned by employees with no publicly traded shares. Founded in 1987 by a former military engineer, it has released financial results in recent years to try to allay security concerns in the United States and Europe.

Must Read

Business group: China tech plan threat to foreign...

Mar 7, 2017

A European business group says China is violating its free-trade pledges by pressing foreign makers...

Zhang Yimou says 'Great Wall' story may have been...

May 10, 2017

Zhang Yimou says the disappointing U.S. performance of the biggest budget China-U.S. co-production...

China blocks online broadcast of computer go match

May 24, 2017

Censors blocked China's internet users from seeing Google's online broadcast of a national go...

The Latest: US wants Liu to be able to choose...

Jul 13, 2017

U.S. officials want Chinese authorities to allow Nobel Peace Prize laureate Liu Xiaobo and his...

Chinese president oversees military parade in...

Jul 30, 2017

Chinese President Xi Jinping has overseen a large-scale military parade in a show of China's...

Sign up now!

Advertisement