Eric Xu, one of the rotating chairmen at Huawei, recently told the CNBC that the company is very close to reaching the $100 billion milestone. Throughout 2017, the Chinese organization revealed revenues of $92.5 billion, depending on the exchange rates at the end of the year.
In 2018, for the first time in its history, the revenues of Huawei are all set to exceed the $100 billion mark. In an interview with CNBC in Mandarin with the help of a translator, Eric Xu proclaimed that the business is doing better than its performance in the past. He confessed that Huawei will be increasing its revenues to a $100 billion without many challenges.
Even though Xu did not offer much explanation between the drivers and changes that will bring about this humongous growth, but he was very confident about his company’s success in reaching the $100 billion mark.
It appears that Xu wasn’t making any exaggerations because Huawei has been doing considerably well in terms of revenues this year. During the first half of 2018, Huawei generated 32.7 billion yuan worth of revenues, which is nearly $49 billion based on the exchange rates during the first six month. Throughout 2017, this booming Chinese tech organization managed to generate a staggering revenue of $92.5 billion, reported according to the exchange rates observed at the end of the year.
It appears that this raging growth and striking performance has emerged due to a uniformed efficiency and powerful strategy in a wide range of sectors, particularly their consumer division, which has enjoyed a successful rise over the years. Now, Huawei has claimed its position as the second largest smartphone brand in the world according to its market share. Huawei has produced several high-end gadgets that provide strikingly innovated features and have managed to beat the market share of Apple, one of the pioneers in the smartphone industry.