Huawei still achieved a year-on-year growth of 3.2% in 2020


Moscow 30/08/2019 Huawei telecom company logo on office building against clear blue sky.

Moscow 30/08/2019 Huawei telecom company logo on office building against clear blue sky.

Faced with the long-term restrictions of the US ban, Huawei’s performance has inevitably been greatly affected in the past two years, but their actual situation may have exceeded many people’s expectations.Not long ago, the official release 2020 Annual Performance Report. Data shows that Huawei’s sales revenue reached 819.4 billion yuan last year, an increase of 3.8% year-on-year, and its net profit was 64.6 billion yuan, an increase of 3.2% from a year ago. In the 2019 annual report, the increases in these two parts were 19.1% and 5.6%, respectively. The official acknowledged that the performance growth rate in the past year has indeed slowed down, but it still “basically achieved operating expectations.”

In this annual report, Huawei has relatively downplayed its consumer hardware business, and more talked about the development of 5G and cloud services. This is also expected. After all, the consumer electronics products of Huawei are the most hit by the US ban. One of the very important reasons for still achieving growth in 2020 is that Huawei has purchased a lot of chips in advance. The true impact of the cut-off is expected to be further revealed this year.

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By Ana Banuelos

Ana is a blogger who is always fascinated with the technology and the amount of knowledge she can gather from the internet. She is trying to nerdify everyone around her with that same knowledge, through her writings.