HONG KONG: Huawei Technologies' device business, comprising mainly smartphones, made a 11 billion yuan profit in the first half of this year: as much as it earned in all of 2018: a rare regulatory filing showed.
Huawei said last month that, while the impact of the curbs was weaker than previously expected, it would still push the smartphone unit's revenue lower by about US$10 billion this year. Huawei previously said smartphone shipments in the first half of the year jumped 24per cent jump to 118 million units, as demand surged from patriotic Chinese buyers amid rising rhetoric in local media that Huawei was being treated unfairly by the United States.Its market share rose more than 10 percentage points to 38per cent in the June quarter in China, the world's biggest smartphone market, according to market research firm Canalys showed.
Profit at Huawei Device Ltd, a wholly-owned unit of the parent and a proxy for the behemoth's smartphone business, was 11.2 billion yuan in the first half of 2019, while revenue was 211 billion yuan.