Growth has slowed, but actual numbers are “largely in line with forecasts”
Huawei today released its 2020 report. A related press release begins by stating that growth has slowed, but this admission is juxtaposed with an upbeat assurance that actual figures are “largely in line with forecasts.”
Huawei’s annual report published
In particular, revenues were 891.4 billion yuan ($ 136 billion), up 3.8% from a year ago, and net profit reached 64.6 billion yuan ($ 9.9 billion), an increase of 3, 2%.
The manufacturer notes that the communications business “continued to provide stable operation of more than 1,500 networks in more than 170 countries and regions, helping to support telecommuting, online learning, and online shopping during the COVID-19 quarantine.” Over the year, over 3,000 5G-related innovative projects were implemented in more than 20 industries.
Separately, the success of the consumer direction was noted, due to the deployment of the HarmonyOS operating system and the Huawei Mobile Services (HMS) ecosystem. This direction implements the Seamless AI Life (“1 + 8 + N”) strategy, which covers smart office, fitness, and health, smart home, travel, and entertainment.
“Over the past year, we have stood firm against adversity,” said Ken Hu, the replacement chairman of Huawei. “We continued to innovate to create added value for our customers, help fight the pandemic, and support economic recovery and social progress around the world. We also seized this opportunity to further improve our work, resulting in results that are largely in line with forecasts. ”
