Huawei is steadily working its way up the ranks of well known brands. The results from the company’s performance over the past half-year have shown significant growth in their business. The Huawei 2017 half year report has some fascinating numbers. Over the past six months sales revenue went up by 36.2%. Smartphone shipments saw an increase as well to 73.01 million, a year-on-year increase of 20.6%. Huawei saw its market share go up significantly, thanks in part to success in key areas.
Huawei 2017 Half Year Report – A Deeper Look
Industry analysts of IDC saw Huawei’s shares improve to 9.8% of the global smartphone market. Their focus on key locations proved fruitful. The company claimed 22.1% of the market in Greater China. Their shipments improved by 24% year-over-year. They also saw rapid growth in Europe with an 18% year-over-year improvement. There were also major breaks in the Asia-Pacific markets such as Thailand, Japan, Malaysia, and South Korea. Russia also saw continuous growth fro the brand. Their Honor brand also made waves for them as it topped internet smartphone sales in China from January to May 2017.
This growth is also cementing the brand among the elites in the world. So far they are number 88 in Forbes World’s Most Valuable Brands. They also placed number 40 on the Brand Finance Global 500 Most Valuable Brands lists. Richard Yu, Chief Executive Officer of Huawei’s Consumer Business Group believes their commitment to their products really helped them. He believes that they are producing not only premium, but also market redefining products. It is through these, he believes, that their devices were able to resonate among the global consumers.
This kind of growth also means new Strategies for Huawei. They plan to increase their retail network to 56,000 stores worldwide by the end of the year. This is a big jump from the 35,000 they had last may 2016. In a previous article we also noted that Huawei will be leaving the low-end phone range. This is to focus on their more premium devices.