China’s biggest smartphone maker Huawei grew its revenues by almost a third in 2016, boosted by smartphone sales soaring during a disastrous year for its competitor Samsung.
The company shipped 139m smartphones last year, an increase of roughly a third from the previous year, cementing its status as the world’s third biggest smartphone manufacturer. Last year, Huawei released a line of high-end mobiles such as the P9 in an attempt to win over richer consumers in the west.
However, net profit margins continued to fall as a result of the company’s ongoing move towards smartphones, away from its more lucrative telecoms equipment business.
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