Huawei announces business results for first half of 2020


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By Our Reporter Huawei has announced its business results for the first half of 2020. The company generated CNY454 billion (USD 64.90 billion) in revenue during this period, a 13.1% increase year-on-year, with a net profit margin of 9.2%. Huawei’s carrier, enterprise, and consumer businesses achieved CNY159.6 billion (USD 22.81 billion), CNY36.3 billion (USD 5.19 billion), and CNY255.8 billion (USD 36.57 billion) in revenue, respectively. As countries around the globe are grappling with the COVID-19 pandemic, information and communications technologies (ICT) have become not only a crucial tool for combatting the virus, but also an engine for economic recovery. Huawei reiterated its commitment to working with carriers and industry partners to maintain stable network operations, accelerate digital transformation, and support efforts to contain local outbreaks and reopen local economies. The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces. The financial data disclosed here are unaudited figures compiled in compliance with the International Financial Reporting Standards. The post...