Friday 14 August, 2020

Huawei reports 9.2% increase in net profits margin

Huawei has reported a more than nine percent increase in net profit margin.

The telecom giant recently announced its business results for the first half of 2020, stating that it has generated CNY 454 billion in revenue during this period, a 13.1 per cent increase year-on-year. Huawei's carrier, enterprise, and consumer businesses achieved CNY 159.6 billion, CNY 36.3 billion, and CNY 255.8 billion in revenue, respectively.

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 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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