MM Group’s Huawei sales not affected by Android suspension

Cairo – Mubasher: MM Group for Industry and International Trade on Tuesday announced that sales of Huawei mobile phones will not be impacted during the current period amid the US pressure on the Chinese smartphone maker.

The current smartphone models in the Egyptian market which were sold or will be sold in the future will operate normally, MM Group said in a statement to the Egyptian Exchange (EGX).

Earlier, the US tech giant Google suspended business with Huawei, blocking its future access to Android.  

“Google's decision to suspend some business with Huawei will be applied to the new models only”, the statement added.

During the first quarter of 2019, MM Group’s net profits totalled EGP 142.97 million, compared to EGP 88.61 million in the year-ago period.

Sales surged by 77.02% year-on-year to EGP 2.896 billion in the three-month period ended 31 March from EGP 1.634 billion.

As for standalone business, the company’s profits rose by 40.95% to EGP 109.62 million in Q1-19 from EGP 77.78 million in Q1-18.

Mubasher Contribution Time: 21-May-2019 11:01 (GMT)
Mubasher Last Update Time: 21-May-2019 11:09 (GMT)