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Huawei Consumer Business Group has revealed its 2016 half year financial results showing sales revenue for the global information and technology solutions provider which has increased by 41 percent year-on-year to CNY¥ 77.4 billion ($11.6billion) in the first half of 2016.
Smartphone shipments stood at 60.56 million, a year-on-year increase of 25 percent.
The company which came into Nigeria’s budding smartphone market almost 2 years ago, designing and selling mainly high-end smart phones, hoping to compete better with other popular devices, say they have know doubt about grasping a large market share in the country as their strong presence is evident in their global financial results.
“Nigeria remains a key focus market for us at Huawei. We will compete vigorously for the hearts and minds of Nigerian consumers as well as Marketshare across key product categories and premium product segments,” said Leo Jianghui, managing director for devices at Huawei, Nigeria.
According to International Data Corporation (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.
Speaking on the results, Richard Yu, the Group Chief Executive Officer, Huawei Consumer Business, said; “We saw particularly fast growth in traditionally high-end smartphone markets such as Europe and emerging markets including North Africa, Central Asia and Latin America.”
Yu further added “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.”
In the first half of 2016, Huawei Consumer Business Group further optimized its revenue structure, resulting in growth in its overseas markets 1.6 times faster than that of mainland China. According to GFK, by the end of May 2016, Huawei’s share of the global smartphone market reached 11.4 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.
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 has doubled.
In China, the company seems to be the industry leader with a market share of 18.6 percent, according to GFK report in June.
Having consistently demonstrated significant sales growth, Huawei Consumer Business Group continues to show a deep commitment to innovation in research and development from its R&D centers around the world.
In 2016, Huawei was once again named in the BrandZTM Top 100 Most Valuable Global Brands.
Huawei says it is well-positioned to continue its presence in the smartphone, wearable, smart home and cloud markets, becoming an end-to-end solutions and platform service provider, and offering consumers a more convenient and intelligent way to connect their lives.
Jumoke Akiyode
