Huawei generates 13.1% growth in revenue

Business Wednesday 19/August/2020 16:01 PM
By: Times News Service
Huawei generates 13.1% growth in revenue

Muscat: Huawei recently announced its business results for the first half of 2020.
The company generated $64.23 billion in revenue during this period, a 13.1 per cent increase year-on-year, with a net profit margin of 9.2 per cent. Huawei's carrier, enterprise, and consumer businesses achieved $22.58 billion, $5.13 billion, and $36.19 billion in revenue, respectively.
Registering the highest net profits of the three company divisions, Huawei Consumer Business Group (BG) has recently shared details of a revolutionary new experience for consumers - the Seamless AI Life experience. The product of a long-term business plan focused around the innovative 1+8+N product and software ecosystem, Huawei’s Seamless AI Life experience is set to help users stay connected effortlessly and at all times. Together with a newly announced range of IoT ecosystem partners and AppGallery applications, Huawei promises to make life more seamless and intelligently connected for consumers. Users everywhere can now simply tap to connect and enjoy the rich benefits of a Seamless AI Life.
As countries around the globe are grappling with the current situation, information and communications technologies (ICT) have become not only a crucial tool for combatting the global challenges, but also an engine for economic recovery. Huawei reiterated its commitment to working with carriers and industry partners to maintain stable network operations, accelerate digital transformation, and support efforts to contain local outbreaks and reopen local economies.
The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces.