Huawei Technologies is one of the world’s largest telecommunications equipment supplier. They plan to sell a record 140 million smartphones this year, with a greater focus on premium-priced models. In order to hit their targets, they plan to open 15,000 new retail stores around the world.
“We are optimistic and confident about reaching our target shipment of 140 million smartphones this year,”
Richard Yu Chengdong, the chief executive of Huawei’s consumer business group, said on Tuesday in Shenzhen. They sold 108 million units last year, and the latest planned surge will give them an extra 30 percent this year. There may have been an economic slowdown in the world, but Huawei still stands strong and in fact, Yu remains enthusiastic about growth. He continued by saying:
“[The number of stores) is far from enough. We are going to open more retail stores overseas”
Huawei already has 35,000 stores around the world with 11,000 in China, 6,500 spread around Asia, 6,200 in Europe and 1,500 in South America. With operations in 170 countries supported by a growing number of third-party shops adn carriers, Huawei’s retail presence is one of, if not the, biggest in telecoms; by way of comparison, Apple has 484 of their famed retail stores in 17 countries.
Huawei recently published their numbers, showing off 25 percent growth year on year; sales have jumped in the consumer business group up to 41 percent with more than half of it coming from overseas markets. Market research suggested their global market share has reached 11.4%, with their premium market share registering a jump from 15.2% to 25.7% between March and May. Richard Yu believes this is due to the demand and popularity of the flagship Huawei P9 and he remains optimistic about catching up with the bigger players around the world:
We had about the same [profit] margin as last year … [but] it still lags far behind those of Apple and Samsung
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