Huawei records 39% quarterly revenue growth against odds

Thanks to “unprecedented opportunities” in 5G commercialization.

Image credit to Kārlis Dambrāns on Flickr.

Huawei, the Chinese telecom equipment maker that is arguably the world’s most controversial company at the moment, has reported a 39% quarterly revenue growth.

The company booked RMB 179.7 billion (USD 26.8 billion) in the first quarter of 2019 with a 8% net profit rate.

The Shenzhen-based telecom behemoth attributes its “solid” first quarter performance to the “unprecedented opportunities” brought by the large-scale deployment of 5G networks this year.

As of the end of March, Huawei has signed 40 5G contracts with global partners and shipped more than 70,000 5G base stations worldwide.

Huawei’s smartphone shipments, meanwhile, accounted for more than 59 million units, putting it on track to break last year’s sales record. Huawei shipped 206 million smartphones in 2018, according to IDC.