Huawei revenue grew 13% to $64.90 bn in first half

Huawei said its revenue rose 13.1 percent to 454 billion yuan or $64.90 billion for the first half of 2020 with a net profit margin of 9.2 percent.
Huawei phone campaign in China
Huawei earlier indicated that it would face tough business conditions in 2020 in the wake of the US-led restrictions. Huawei did not divulge details on the likely impact of Covid-19 related issues.

Huawei’s carrier business was 159.6 billion yuan or $22.8 billion in the first half. Huawei lost considerable business from telecom operators. Huawei is currently battling to win 5G network deals in several countries.

Huawei’s enterprise business revenue was 36.3 billion yuan or $5.18 billion during the first half of the current year.

Huawei’s consumer business revenue was 255.8 billion yuan or $36.55 billion. Huawei did not reveal the number of smartphones shipped during the first half.

Huawei in December said its full-year revenue for 2019 would jump 18 percent to 850 billion yuan or $121.72 billion, lower than its earlier projections, due to trade blacklisting by the US.

Huawei is the world’s biggest maker of telecom network equipment and the No. 2 manufacturer of smartphones.

United States in May banned Huawei from doing business with U.S. companies, preventing its access to technology like Google’s Android operating system.

The U.S. government alleges Huawei equipment pose national security risks because they could be used by the Chinese government to spy on users. Huawei has repeatedly denied its products are a security threat.

Baburajan K