Type to search

Business

Huawei Records Revenues Twice as Kenya’s National Budget in Half a Year

Peter Musila 4 months ago
Share

Huawei posts Ksh6.07 trillion of revenue during the first half of 2019, a 23%-year revenue growth despite the sanctions imposed to it this year by the United States President Donald Trump.

Kenya’s budget for the financial year 2019/20 standing at approximately Ksh3.01 trillion, the revenues made by Huawei in the first half of 2019 amount to double the national budget of the country.

Last year, the company posted a 15% of revenue, and hence the growth can be considered a bump. However, the company recorded a slow profits growth with a margin of 8% from the 14% recorded last year.

“That’s not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term,” said the firm’s Chairman, Liang Hua.

According to the company, the H1 sales revenue hit 3.3 trillion attributed by an upsurge in sales of various devices.

“Huawei’s smartphone shipments (including Honor phones) reached 118 million units, up 24% YoY. The company also saw rapid growth in its shipments of tablets, PCs, and wearables.” Reads a statement on their website.

“To date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide,”

“Huawei has secured 50 commercial 5G contracts and has shipped more than 150,000 base stations to markets around the world,” the tech firm wrote.

The company sales hit Ksh478 billion this year. The company has perfected various ICT portfolios such as cloud, artificial intelligence, campus networks, data centers, Internet of Things, and intelligent computing.

The sanctions imposed by the United States to the company were emanating from having being suspected of having installed spyware in its devices.

Even as international firms have parted ways with Huawei, Kenya’s giant telco Safaricom said that it would continue to back the tech firm.

%d bloggers like this: