Huawei has just announced its financial results for the first half of the year a day after we told you that the company’s revenue target for 2016 has been set at $75 billion.
The latest cumulative first half results from the company just shows you why Huawei is the third largest smartphone manufacturers in the world. The company shipped over 60.5 million smartphones during the first six months of the year from January to June. This represents a growth of 25% from the same period last year which is impressive considering that other manufacturers are seeing their market share drop as competition gets tougher.
According to Huawei, traditional high end markets such as Europe have helped the rise in shipments this year. The company’s latest flagship, the Huawei P9 has also helped a lot during the first half of the year. The P9 is known for its dual camera setup but besides that, it is one of the best and affordable premium smartphones of 2016. For example, in Kenya, you can get the P9 for Ksh 55,000 or less compared to the likes of the Galaxy S7 that are in the Ksh 70,000 neighborhood.
Only Three Smartphone Manufacturers
When announcing these latest results, Huawei’s Chairman Richard got a bit cocky saying, “There are only three major smartphone vendors in the world – Apple, Samsung and Huawei. It’s consolidating… other vendors will die in the next three to five years.” He did not name specific brands but was definitely referring to the mushrooming smartphone brands in China.
As for actual revenue, Huawei saw that jump to $11.6 billion during the first half of the year representing a growth of 41% from the same period last year. A few months ago, Huawei said that it expects to sell 140 million smartphones by the end of the year (2016). This does not seem attainable right now but probably the company will manage to ship 120 million units. 120 or 140 million units in one year are numbers most smartphone manufacturers wish to achieve but only a few are able to do so.
For now, we will have to sit and wait to see if Huawei will blow our minds at the end of the year.
Also Read: The Huawei P9 Unboxing and First Impressions
