Huawei said its revenue grew 13.1 per cent year-on-year in the first half of 2020 despite the global coronavirus pandemic and ongoing sanctions from the US.
The company generated 454 billion yuan (US$64.8 billion) in revenue in the first six months of the year, up from 401.3 billion yuan during the same period in 2019.
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 a 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.
The results came ahead of the UK announcement on banning Huawei from Britain’s 5G network.
“The complex external environment makes open collaboration and trust in global value chains more important than ever,” said Huawei on Monday night.
“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.”
