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Huawei Makes Ksh7 Trillion In Half Year Global Revenues

[PHOTO/ COURTESY]

Huawei generated CNY454 billion (approximately Ksh7 trillion) in revenue for the first six months of 2020, a 13.1 percent increase year-on-year, with a net profit margin of 9.2 percent.

Huawei’s carrier, enterprise, and consumer businesses achieved CNY159.6 billion (Ksh2.5 trillion), CNY36.3 billion (Ksh556 trillion), and CNY255.8 billion (Ksh4 trillion) in revenue, respectively.

The financial data disclosed are unaudited figures compiled in compliance with the International Financial Reporting Standards, Huawei said.

“As countries around the globe are grappling with the COVID-19 pandemic, information and communications technologies (ICT) have become not only a crucial tool for combating the virus, but also an engine for economic recovery,” the company said in  a statement.

Read: Huawei Dealt A Blow As U.K. Bans It From 5G Network

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,” added the statement.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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