Huawei posts revenue of US $ 136.7 bn for 2020 | Daily News

Huawei posts revenue of US $ 136.7 bn for 2020

Ken Hu,  Huawei’s Rotating Chairman
Ken Hu, Huawei’s Rotating Chairman

Huawei released its 2020 Annual Report yesterday and though the growth slowed, the company’s business performance was largely in line with forecast. Huawei’s sales revenue in 2020 rounded off at US $ 136.7 billion (CNY 891.4 billion), up 3.8%year-on-year, and its net profit reached US $ 9.9 billion (CNY 64.6 billion), up 3.2% year-on-year.Despite operational difficulties brought about by US sanctions in 2019 and 2020, Huawei has continued to invite KPMG to independently and objectively audit our financial statements.

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, which helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Over the past year, Huawei’s enterprise business stepped up efforts to develop innovative scenario-based solutions for different industriesand create a digital ecosystem that thrives on joint creation and shared success. During the pandemic, Huawei provided technical expertise and solutions that were vital in the fight against the virus. “Over the past year we’ve held strong in the face ofadversity,” 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” Huawei recognizes the importance of creating shared value for society as a whole, and is working together with partners to support broader economic, social, and environmental goals for shared progress and prosperity.

To boost the economic recovery and cultivate the digital ecosystem, Huawei launched the Spark program in Singapore in 2020 to provide technical support, funding, consulting and training for tech startups. The 5GEcosystem Innovation Center in Thailand, supported by Huawei, has served as a sandbox for 5G innovations in ASEAN.