Huawei revenue surged 13.1% in H1 of 2020 despite challenges

Huawei Technologies Co said on Monday night that it recorded 454 billion yuan ($64.2 billion) in revenue in the first half of 2020, marking a 13.1 percent increase year-on-year, despite US government restrictions and the challenges created by COVID-19.

According to the company, Huawei's carrier, enterprise, and consumer businesses achieved 159.6 billion yuan, 36.3 billion yuan, and 255.8 billion yuan in revenue, respectively.

Its net profit margin stood at 9.2 percent.

Huawei said in a statement that as countries around the globe are grappling with the COVID-19 pandemic, information and communications technologies have become not only a crucial tool for combatting the virus, 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,"Huawei said.