News Karnataka
Wednesday, April 17 2024

Huawei logs $136 bn sales in 2020 despite US sanctions

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Shenzhen (China): Despite operational difficulties brought about by US sanctions, Chinese conglomerate Huawei’s sales in 2020 reached 891.4 billion yuan ($136 billion), up 3.8 per cent year-on-year, and its net profit reached 64.6 billion yuan ($9.86 billion), up 3.2 per cent (on-year).

Nearly 66 per cent of Huawei’s revenue came from China, up from 59 per cent the previous year.

However, revenue from the Americas plunged 24.5 per cent amid the sanctions.

According to Huawei’s annual report, its consumer division grew its revenue by 3.3 per cent last year.

“Over the past year we’ve held strong in the face of adversity,” said Ken Hu, Huawei’s Rotating Chairman in a statement on Wednesday.

“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. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast,” Hu added.

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.

Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing.

With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei said its consumer business moved forward with its Seamless AI Life strategy (1+8+N) to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness and health, smart home, easy travel, and entertainment.

“We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development,” said Hu.


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