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HUAWEI reports 13.1% revenue boost in the first half of 2020 despite COVID-19 impact

By Nadeem Sarwar July 14, 2020, 10:10 am
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Chinese electronics giant HUAWEI has announced its financial report for the first half of 2020, and things look positive for the company despite the coronavirus pandemic hammering the entire industry. The company said it brought in CNY 454 billion (~ $64.9 billion) in revenue during H1 2020.

The numbers translate to a rise of 13.1% on a YoY basis, while the net profit stood at 9.2% of that figure. If one were to do a breakdown, HUAWEI’s carrier, enterprise, and consumer businesses raked in CNY 159.6 billion (~ $22.81 billion), CNY 36.3 billion (~ $5.19 billion), and CNY 255.8 billion (~ $36.57 billion) in revenue, respectively.

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“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 company noted about its role as an engine of economic recovery as the pandemic continues to affect businesses across the globe.

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