Huawei shipped more than 70,000 5G base stations to markets around the world and signed 40 commercial contracts for 5G with leading global carriers. (Photo: AP)

Huawei announced its earnings for Q1, 2019, observing a revenue of USD 27 billion (179.7 billion CNY), an increase of 39 per cent year-on-year.

In its official press release, the company revealed that it shipped 59 million smartphones, whereas other segments including PCs, wearables, and smart home, also witnessed an uptick in growth in global markets.

Huawei’s net profit margin in Q1 2019 was about 8 per cent, slightly higher than in the same period last year. The company also detailed its 5G progress, saying it shipped more than 70,000 5G base stations to markets around the world and signed 40 commercial contracts for 5G with leading global carriers.