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Huawei’s revenue for the first half of 2016 soars 40%

The world’s third-largest smartphone maker by sales saw its revenue grow to 245.5 billion yuan ($36.67 billion) in the first six months of this year, the Wall Street Journal reports. It’s revenue for the same period last year was just 175.9 billion yuan. The Chinese smartphone manufacturer is trying to catch up with #2 Samsung and #1 Apple in the lucrative handset market with its high-end flagship P9 series and more cost effective Y3 series. Though Huawei saw its revenue soar, its operating margin shrank to 12% from 18% as a “result of increased investment to support future growth,” a Huawei spokesman said.

[Image: Huawei]

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