Huawei announced its business results for the first half of 2020 today. The company generated 454 billion Chinese Yuan (CYN), in revenue during this period, a 13.1% increase year-on-year, with a net profit margin of 9.2%.
Huawei’s carrier, enterprise, and consumer businesses achieved CNY159.6 billion, CNY36.3 billion, and CNY255.8 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 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.
Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to editor@kenyanbusinessfeed.com
Comments
Related reporting
More Business News →
BRICS Expansion: New Members, Currency Dreams, and a Bold Bid to Eclipse the West
Oigara's 722 Million Scandal Shakes Stanbic and Kenya’s Banking Watchdogs
