The pandemic has greatly affected a lot of companies around the globe. It’s much worse for Huawei, who was forced to cut ties with their American partners after the US government imposed sanctions.
However, it appears that Huawei was able to push through. As we end the first half of 2020, companies like Huawei have released their H1 2020 financial reports.
As per a press release, it appears that Huawei had a 13.1% YoY growth, from the 9.2% figures from the first half of last year. That’s in terms of net profit and revenue.
It’s said that the Chinese tech giant recorded total revenue of CNY454 billion, which is about Php3.2 trillion when directly converted to Philippine pesos.
A major piece of the pie came from Huawei’s consumer business, which got revenue of CNY2.558 billion (around Php1.8 trillion). That’s the sales for Huawei’s smartphones, tablets, wearables, and other mobile devices. Huawei is also rumored to expand its consumer business by entering the gaming laptop category.
Meanwhile, the Huawei carrier business, which was one of the main affected of the US trade ban, managed to pull CNY2.558 billion (around Php1.1 trillion) in revenues. We also have the enterprise division with CNY23.6 billion (around Php256 billion).
We’ll see how Huawei’s carrier business holds up as the UK government also banned Huawei 5G infrastructure.
Last week, Huawei is finally fighting back as they filed patent infringement against US companies