Huawei's 1H14 revenues jump 19% year-on-year

Chinese network equipment vendor Huawei Technologies Co Ltd. reports a jump in operating performance for the first half of 2014. In the first six months of the year, Huawei said it generated sales revenue of CNY135.8 billion ($21.8 billion), an increase of 19% year-on-year with an operating margin of 18.3%.

"Revenue and profit for the first half of 2014 are in line with our expectations," said Cathy Meng, Huawei's chief financial officer. "Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband. Rapid growth in software and services helped maintain steady growth in our carrier network business. Our efforts in the enterprise business have begun to pay off. We have enjoyed accelerated growth in this area. We also achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide. Our flagship smartphone, the Ascend P7, is being sold in more than 70 countries and regions."

Via a press release, the company expressed confidence will achieve “sustainable growth, robust operations, and healthy financials” throughout the rest of the year as well. Huawei also said it will remain committed to open innovation and cooperation.

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