HONG KONG (Reuters) – China’s Huawei Technologies Co Ltd [HWT.UL] posted a 15 percent rise in first-half revenue, with industry data showing market share gains at home for the smartphone maker that has been largely shut out of the U.S. market over security concerns.
FILE PHOTO: A man walks past a sign board of Huawei at CES (Consumer Electronics Show) Asia 2018 in Shanghai, China June 14, 2018. REUTERS/Aly Song/File Photo
The world’s third-largest smartphone maker said on Tuesday revenue rose to 325.7 billion yuan ($47.7 billion) for the six months to June 30 due to strong performances across its businesses including smartphones, telecom equipment and IT infrastructure services. It maintained the pace of growth seen in the year-ago period.
Operating margin in the period rose to 14 percent, from 11 percent a year ago. Shenzhen-based Huawei’s statement gave no other financial details.
The Chinese market is key for Huawei as it has come under increasing fire in United States, Australia and other nations over concerns it could facilitate Chinese government spying. It has been thwarted in its efforts to establish its U.S. mobile handset business. And Australia is preparing to ban Huawei from supplying equipment for its planned 5G broadband network, sources say.
Huawei has denied it facilitates spying and has said it is a private company not under Chinese government control and not subject to Chinese security laws overseas.
Huawei expanded its market share in the Chinese smartphone market to a record 27 percent in the second quarter from 21 percent a year earlier, according to market research firm…