Huawei reports record revenue in Russia
According to the Russian online business registry, SPARK, the revenue of the Russian subsidiary of Huawei Technologies Co. (LTC Huawei Tech Company) increased from 61.7 billion to 132.3 billion rubles in 2018. Net profit of the company at the end of last year increased by 2.4 times to 3.35 billion rubles.
LTC Huawei Tech Company was registered on September 15, 2000. According to the SPARK data, the amount of last year's revenue is the company's new record. A representative of Huawei declined to give any comments. However, RBC news agency reports, citing its sources, that the revenue for 2018 is a record for the Russian division of Huawei. The increase in sales of mobile devices of the Chinese brand contributed to the growth of this indicator.
Huawei is a manufacturer of consumer devices — smartphones, computers, tablets, wearable devices, smart home gadgets, telecommunications, and its equipment (base stations, switches, servers, storage systems, etc.).
According to the IDC report, the volume of the Russian smartphone market reached a record value of $7.56 billion in 2018 (474 billion rubles at the average exchange rate last year), more than 30 million devices were sold. In 2018 Huawei's increased its share in the number of sold devices from 11 to 20%. Chinese manufacturer overtook the American company Apple and took second place on the mobile devices market share in Russia. South Korean Samsung remains the market leader. According to a major Russian retailer, about 7.5 million Huawei and Honor smartphones (also owned by Huawei) were sold in Russia last year. The average cost of the device was 13.4 thousand rubles ($206 USD). According to the RBC's source, all Russian retailers buy all Huawei and Honor gadgets, including wearable devices, from LTC Huawei Tech Company. Thus, the sale of consumer devices in Russia could give Huawei more than 75% of total revenue.