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Huawei Announces Move Away From Low-End Smartphones

Huawei Announces Move Away From Low-End Smartphones

Huawei has posted its latest financial earnings report, detailing an increase of 36.2% in the company’s revenues for the first half of 2017.

Richard Yu, chief executive officer of Huawei’s Consumer Business Group, says that Huawei’s “Consumer Business Group continued to deliver extraordinary growth, beating the industry average and penetrating high-end markets around the globe.”

“This ongoing growth is testament to the strength of the Huawei brand and the momentum we’ve built through delivering premium, market-redefining devices that resonate with today’s discerning consumers.”

All told, the company’s legion of smartphones, laptops, tablets, wearables and more brought in $16B in revenues.

Smartphone shipments for the period also rose to 73.01million, a year-on-year increase of 20.6%.

Going forward, Huawei “expects to spur continued growth as the company pushes its devices further through innovations in artificial intelligence and machine learning that will drive the new “smart era” forward. The Consumer Business Group is committing to delivering intelligent devices that anticipate users’ needs and fit more organically into the way people work and live.”

More interestingly, CEO Richard Yu revealed to Bloomberg that the company “are giving up the very low-end devices because the margin in this is extremely low, and it’s not making enough profit for us”.

Yu also teased the Huawei Mate 10, due for release later in the year.

According to him, “we will have an even more powerful product. The Mate 10, which has much longer battery life with a full-screen display, quicker changing speed, better photographing capability and many other features that will help us compete with Apple.”

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