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.

People also read these

China reports no major collapses following powerful quake

Aug 10, 2017

Chinese monitors say they've detected multiple landslides but no major building collapses following...

China's ever-tighter web controls jolt companies, scientists

Sep 10, 2017

China's campaign to stamp out use technology that allows web surfers to evade its internet filters...

The Latest: Tibetan group protests at China Embassy in India

Oct 18, 2017

Members of the Tibetan Youth Congress protested at the Chinese Embassy in New Delhi as China's...

Workers at iPhone supplier in China protest unpaid bonuses

Oct 19, 2017

Apple vows to investigate underpayment of bonuses at iPhone supplier in China after worker protests

Viral smartphone game lets ordinary Chinese "clap" for Xi

Oct 20, 2017

Ordinary young Chinese may not have paid close attention to Xi Jinping's 3-and-a-half hour marathon...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales[at]aseancoverage.com