Huawei’s revenue rises 13.1 per cent in first half of 2020 despite coronavirus pandemic and US ban
- Shenzhen-based tech giant Huawei generated 454 billion yuan (US$64.8 billion) in revenue in the first six months of the year
- This was up from 401.3 billion yuan during the same period in 2019, despite the global coronavirus pandemic and ongoing sanctions from the US
The net profit margin was 9.2 per cent in the first six months, up from 8.7 per cent in the same period last year. Huawei’s key business segments – consumer, carrier and enterprise – produced revenue of 255.8 billion yuan, 159.6 billion yuan and 36.3 billion yuan respectively with positive growth.
“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 combating the virus, but also an engine for economic recovery,” Huawei said in the statement.
Huawei also 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.