BUSINESS NEWS

Huawei post healthy balance sheet!

huawei
Healthy balance sheet was reported by the Huawei Group.

In South Africa, the company grew by 38% when compared to the same period last year (January to May 2016) according to GFK.

The results were released today, following a continued growth in the market that is predominantly headed up Korean company –Samsung.

According to IDC, global smartphone shipments in the first half of 2016 increased by just 3.1%, indicating that Huawei’s growth has significantly outperformed the market.

Huawei Consumer Business Group Chief Executive Officer Richard Yu said: “We saw particularly fast growth in traditionally high-end smartphone markets such as Europe and emerging markets including North Africa, Central Asia & Latin America.”

“We have continued to maintain healthy growth within the highly competitive smartphone market, which is testament to Huawei’s long-term commitment to innovation, anticipation of consumer trend and dual strategy of focusing on both domestic and international markets.

Looking to the future, we will continue to work with our industry partners to offer consumers excellent levels of service and develop innovative new products that combine technology, quality and style.”

“Following European trends our growth has largely been in the G, P and M series in the $200 -$700 price band.

We will continue to be innovative at the high end and capture premium users says,” Charlene Munilall, GM of Huawei Consumer Business Group South Africa.

Flagship products, such as the P9, Mate 8, Honor V8 and MateBook, have been well-received by consumers worldwide, such as North Africa and South Pacific, that saw significant market share growth. In Egypt, Huawei’s smartphone market share has reached over 20%.

This year, it was again named in the BrandZTM Top 100 Most Valuable Global Brands. Huawei’s value of US$18,652 billion saw the brand leap from 70th position in 2015 to 50th in 2016.

It also emphasize the importance of customer service offering, with 394 service centers located around the world and 21 across the MEA region including the newly opened Kuwait, Qatar and flagship UAE centers.

The brand continues investing in sports, lifestyle, fashion and entertainment, and also works in tandem with market-leading partners such as Leica, Swarovski, Harman Kardon, Audi, Google, Microsoft and Intel, etc.

 

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