Huawei revenues leaped 39 percent in the first quarter to CNY 179.7 billion, bolstered by large-scale deployments of 5G around the world and strong smartphone sales. The company’s net profit margin went slightly up year-on-year to around 8 percent.
Further details of the quarterly results were not disclosed. The company said that by the end of the quarter, it had shipped more Wi-Fi 6 products than any other company worldwide, and that smartphome shipments went to 59 million in the first three months of the year. Also by the end of March, Huawei said it had signed 40 commercial contracts for 5G with leading global carriers, and that it had shipped over 70,000 5G base stations around the world.
Separately, Huawei announced what it says is the first 5G product for the automotive market. Based on its Balong 5G modem announced earlier this year, the MH5000 module for connected cars was presented at the Shanghai Autoshow. It is expected to start shipping to customers in the second half of 2019.
