The Shenzhen-based company, the world’s largest telecoms equipment manufacturer, also said its net profit margin was approximately 8 per cent for the quarter, which it included was marginally higher compared to the exact same period this past year. Huawei didn’t disclose its real net profit.
The restricted results announcement comes at a time when Washington has intensified a campaign against unlisted Huawei, alleging its gear might be used for espionage and advocating US allies to prohibit it in creating next-generation 5G cell networks.
Huawei has repeatedly denied the allegations and started an unprecedented media blitz by opening its campus up to journalists and producing its typically low-key creator, Ren Zhengfei, available for media interviews.
The Chinese company, that is also the world’s No. 3 smartphone manufacturer, said the amount of contracts it has won to provide 5G telecoms equipment increased despite the US effort.
From the end of March, Huawei said it had signed 40 commercial 5G contracts with carriers, sent over 70,000 5G base channels to markets across the world and hopes to have sent 100,000 by May.
Huawei’s network firm saw its initial fall in earnings in two years in 2018. However, Ren Zhengfei stated in an interview with CNBC earlier this month which network gear sales climbed 15 percent while earnings of the customer business increased by over 70% in the quarter.
“These figures demonstrate that we’re still growing, not decreasing,” Ren said.
Guo Ping, rotating chairman of the business, has said he expects all three business groups – customer, carrier and business – to post double growth growth this past year.
It didn’t disclose year-ago comparable amounts, but according to market research company Strategy Analytics, Huawei sent 39.3 million mobiles in the first quarter of 2018.