Huawei’s Q1 results show 39% on-year increase and 59 million smartphone shipment

Huawei today announced, its operating results for the first quarter of 2019, which shows the company’s direction and path towards becoming the world’s number one smartphone seller.

Yu Chengdong: Huawei to become the world’s largest smartphone brand by 2020

According to the results, Huawei generated CNY179.7 billion ($26.67 billion) in revenue, an increase of 39% year-on-year. The company’s net profit margin in Q1 2019 was about 8%, slightly higher than in the same period last year.

In the consumer division, Huawei’s smartphone shipments exceeded 59 million units in the first quarter. Huawei said its segments like PCs, wearables, and smart home, Huawei has been welcomed by global consumers.

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The company has also mentioned its business growth in other sectors including, network equipment, ICT, and enterprise platforms such as the cloud and others.

Talking about its smartphone shipment, Huawei + Honor’s double-brand mobile phone sales reached 206 million units, ranking third in the world and close to the second-placed Apple.

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At recently held Shanghai AWE 2019 conference, Huawei’s consumer business CEO Yu Chengdong said that in 2019, Huawei’s + Honor sales target is 250 -260 million units, becoming or reaching close to the world’s top smartphone shipment.

And if Huawei continues to keep the current growth momentum throughout 2019, the company will keep getting higher numbers and will easily achieve the goal of 250 million units shipped.