Huawei H1 sales revenue up 10.8%

SHENZHEN - Huawei, a leading global information and communications technology solutions provider, announced Wednesday that its sales revenue in the first six months of this year reached 113.8 billion yuan ($18.4 billion), up 10.8 percent year on year.

Based on robust growth and other positive business indicators, Huawei expects to generate a net profit margin of 7 to 8 percent in 2013, according to its unaudited financial and operational results for the first half of 2013.

"Our success in H1 2013 was mainly driven by the steady growth of the carrier network business, the expansion of the enterprise business, and the fast growth of the consumer business, as well as the continuous enhancement of our overall operational efficiency," said Cathy Meng, chief financial officer of Huawei.

"From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10 percent," said Meng.

Huawei, based in the coastal city of Shenzhen in South China's Guangdong province, jumped to 315th on the 2013 Fortune Global 500 list from 351st a year ago. It has surpassed Stockholm-based Ericsson in the rankings with increased revenues and solid earnings propelled by smartphone sales.