Huawei posts revenue growth in first half of 2020 despite US sanctions

Huawei has reported a 13.1 per cent year-over-year revenue growth in the first half of 2020, amid the sales shrinkage due to the ongoing US sanctions and the COVID-19 pandemic around the world.

The company generated 454 billion Yuan in revenue during this period with a net profit margin of 9.2 per cent, a slight increase from 8.7 per cent for the same period last year.

Huawei’s carrier, enterprise, and consumer businesses achieved 159.6 billion Yuan, 36.3 billion Yuan, and 255.8 billion Yuan in revenue, respectively. Also representing about 35 per cent, 8 per cent and 56 per cent of the total revenue.

The growth figures can highly be attributed to the brands’ great support back in China which is its largest consumer market. Also, while the world grapples to survive through the pandemic, China has been a bit stable, which in a way skyrocketed the sales.

The telco also mentions that 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.

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