China’s Huawei reports small revenue bump on back of core businesses
Huawei’s profit margin rose to 15%, with a net profit of 46.6 billion yuan, making, according to Reuters calculations, around a threefold improvement on a year earlier.
Huawei’s ICT infrastructure business, which includes 5G base stations and enterprise systems, made up 167.2 billion yuan to revenues, while its consumer business, which includes smartphones and other devices, contributed 103.5 billion yuan. Last week Richard Yu, the head of the company’s consumer business, said Huawei’s handsets are “on the road to a comeback,” with it domestic mobile market share growing 76.1% in the second quarter.
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