Huawei marks 40% increase in sales year on year

Reuters reports that Huawei has a 40 percent rise in its first-half sales revenue.

Sales revenue reached 245.5 billion yuan ($36.8 billion) in the first six months of 2016, the company said in a statement.

“We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations,” Chief Financial Officer Sabrina Meng said in the statement.

Earlier this year, Huawei set a revenue target of $75 billion for 2016. Last year, the company reported a 30 percent rise in first-half revenue.

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