China's Huawei 2017 revenue ascends backed by smartphone sales and cost controls

China's Huawei 2017 revenue ascends backed by smartphone sales and cost controls

On Friday, the world's number three smartphone producer, China's Huawei Technologies reported a 28% jump in the previous year’s net revenue, powered by cost controls as well as a sturdy performance in its home market.

The outlook for the high-tech Chinese company, actually trailing Samsung Electronics along with Apple Inc in mobile devices, is clouded by fierce competition in the domestic market, not to mention diving sales in America because Washington’s considering higher import duties on China's tech stuff.

Shenzhen-based Huawei boasted net revenue surge to about 47.5 billion Yuan the previous year, steeply up from a 0.4% leap in 2016. Apparently, the surge turned to be partly the outcome of a 85% sag in net financing expenses because the Chinese company had smaller foreign exchange losses booked.

Profit inched up 15.7% hitting 603.6 billion Yuan, which is in line with Huawei’s previous guidance as well as its slowest surge for four years.

The Chinese company vowed to concentrate on improving revenue having posted the slowest revenue surge for five years in 2016 because its slim-margin smartphone business suppressed revenue surge.

The company’s consumer business, including smartphone operations, tacked on at a slower 31.9% ending up with 237.2 billion Yuan having shipped up to 153 million smartphones in 2017. The given segment had managed to inch up 43.6% in 2016.

The carrier business, which accounts for almost half of the group's total profit, ascended at a slower tempo of 2.5%, versus 2016's 23.6% expansion because telecom operators are about to present next-generation 5G wireless networks in the nearer future.

Market share revenues in the European Union have helped Huawei to compensate the company's exclusion from America, which appears to be the world's most profitable market for smartphone makers.




How to trade ahead and after BOC report?
How to trade ahead and after BOC report?

The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

Latest news

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera