Huawei Reports Profits in 1H 2020 Financial Statement

Still doing good despite the COVID-19 Pandemic

Despite 2020 being a lackluster year due to the effects of the COVID-19 pandemic, Huawei managed to generate profit in its businesses, as indicated in its 1H 2020 financial report. In the said report, the Chinese tech giant generated CNY 454 billion in revenue, which translates to a 13% year-on-year increase and a 9.2% net profit margin.

Breaking down the revenue distribution, CNY 255.8 billion came from consumer businesses, while CNY 159.6 billion came from carrier businesses. Huawei’s enterprise business did good, contributing to CNY 36.3 billion in revenue.

In its press release, Huawei said that information and communication technologies played a big role in combatting COVID-19, along with helping economies to recover.

Some of Huawei’s efforts in combatting COVID-19 include AI-assisted software for detecting potential COVID-19 cases and a smartphone with a built-in temperature sensor.

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