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Huawei posts 13.1% revenue growth in H1 2020 despite pandemic

Chinese technology giant Huawei posted 13.1 per cent (year-on-year) revenue growth in the first half of 2020 despite increased scrutiny of its equipment in some parts of the world and the impact of the pandemic on smartphone shipments.

The company generated 454 billion yuan ($64.9 billion) in revenue during the first of this year with a net profit margin of 9.2 per cent, Huawei said on Monday.

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

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 said.

The growth came amid US efforts to persuade its allies to give up on Huawei equipment.