The Shenzhen-based company, the world’s biggest telecoms equipment maker, also said its net profit margin was approximately 8 per cent for the quarter, which it included was slightly higher than the same period last year. Huawei didn’t disclose its actual net profit.
The limited results announcement comes at a time when Washington has intensified a campaign against unlisted Huawei, alleging its gear might be used for espionage and urging US allies to prohibit it from building next-generation 5G mobile networks.
Huawei has repeatedly denied the allegations and started an unprecedented media blitz by opening up its campus to journalists and making its typically low-key founder, Ren Zhengfei, available for media interviews.
The Chinese company, which is also the world’s No. 3 smartphone manufacturer, said the amount of contracts it has won to provide 5G telecoms gear increased further despite the US effort.
From the end of March, Huawei said it had signed 40 commercial 5G contracts with carriers, sent more than 70,000 5G base channels to markets across the world and hopes to have sent 100,000 by May.
Huawei’s network business saw its initial fall in revenue in two years in 2018. However, Ren Zhengfei said in an interview with CNBC earlier this month that network gear sales climbed 15 percent while sales of the consumer business increased by over 70% in the quarter.
“These figures show that we’re still growing, not declining,” Ren said.
Guo Ping, rotating chairman of the business, has said he expects all three business groups – consumer, carrier and enterprise – to post double growth growth this past year.
Huawei also said on Monday it had shipped 59 million mobiles in the first quarter. It did not disclose year-ago comparable figures, but according to market research company Strategy Analytics, Huawei shipped 39.3 million smartphones in the first quarter of 2018.