Huawei boosts NZ sales 25 per cent in 2018

Huawei boosts NZ sales 25 per cent in 2018

Huawei NZ's bottom line stays relatively flat

Andrew Bowater (Huawei NZ)

Andrew Bowater (Huawei NZ)

Credit: Huawei NZ

Huawei Technologies NZ increased its sales substantially from $150.9 million in 2017 to $188.6 million in 2018.

The 25 per cent increase was recorded in the year to 31 December, before the company came under local and international pressure over security issues.

However, cost of sales also grew, keeping Huawei's local bottom line relatively flat.

Gross profit was up from $33.4 million to $34 million while net profit after tax fell from $5.7 million to $5 million on increased tax expenses.

Tax costs grew from $175,000 to $2.1 million year-on-year, while employee benefits expenses fell from $23 million to $18.7 million.

"We had another strong year of sales growth, particularly with our consumer division with our sharpened focus on higher end devices the P20 and P30 and Mate series," said Huawei New Zealand deputy managing director Andrew Bowater.

The result also represents a comeback from 2017, when sales fell by $29 million.

Bowater told Reseller News the 2017 decline in sales was neither overly concerning nor surprising, citing three main factors at play.

In the consumer handsets and smartphones business, Huawei changed approach to focus on a longer term brand shift to the higher end of the market.

Secondly, Huawei was providing around 30 per cent of the technology for the UFB rollout. The projects it had been involved with were either nearing completion or were fully rolled out.

A third factor was currency shifts.

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Tags mobilenetworksHuaweiNew Zealand telecommunications

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