Huawei performance in line with forecast

March 31, 2021 2:34 pm0 comments
Huawei Rotating Chairman, Ken Hu

Huawei Rotating Chairman, Ken Hu

by TINTSWALO BALOYI 
JOHANNESBURG – HUAWEI has reported increases of more than 3 percent in revenues and net profit in 2020 on the back of a year characterised by the coronavirus (COVID-19) and operational difficulties brought about by United States sanctions.

While growth slowed, the Chinese-headquartered company said the business performance was largely in line with forecast.

Its net profit reached CNY64,6 billion ($9,86 billion), up 3,2 percent year-on-year.

Huawei’s sales revenue in 2020 rounded off at CNY891,4 billion, up 3,8 percent year-on-year.

The figures were carried in Huawei’s 2020 Annual Report.

Huawei stated despite US sanctions in 2019 and 2020, it continued to invite KPMG to independently and objectively audit its financial statements.

“No matter the circumstances, we will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners,” Huawei stated.

Meanwhile, in 2020, Huawei’s carrier business continued to ensure the stable operations of more than 1 500 networks across more than 170 countries and regions.

The company carried out more than 3 000 5G projects in over 20 industries.

Huawei also worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students.

Other highlights were the rollout of the HarmonyOS and the Huawei Mobile Services (HMS) ecosystem.

“Over the past year we’ve held strong in the face of adversity,” said Ken Hu, Huawei’s Rotating Chairman.

“We’ve kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world.”

Hu said Huawei also took this opportunity to further enhance operations, leading to a performance that was largely in line with forecast.

“We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development,” he concluded.

– CAJ News

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