Huawei revenue up 13.1% in first half despite challenges

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A receptionist sits behind the counter at the Huawei office in Wuhan, central China’s Hubei province. STR/AFP

Chinese telecoms giant Huawei Technologies Co on Monday night said it recorded 454 billion yuan ($64.9 billion) in revenue in the first half of this year, marking a 13.1 per cent increase year-on-year, despite US government restrictions and the challenges created by Covid-19.

Huawei’s carrier, enterprise, and consumer businesses achieved 159.6 billion yuan, 36.3 billion yuan, and 255.8 billion yuan in revenue, respectively, the company said. Its net profit margin stood at 9.2 per cent.

 

It said in a statement that as countries around the globe are grappling with the Covid-19 pandemic, information and communications technologies have become not only a crucial tool for combating 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.

It said: “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.”

CHINA DAILY/ASIA NEWS NETWORK