The leading global provider of information and communications technology (ICT) infrastructure and smart devices, Huawei reported a slowdown in its growth but its business performance unhampered as they remain in line with its forecast based on the 2020 Annual Report.
During the 2020 Annual Report Press Conference held in Shenzhen, China attended by journalists worldwide (in person and online), Huawei shared that its sales revenue is at CNY891.4 billion, up 3.8% year-on-year, and its net profit reached CNY64.6 billion, up 3.2% year-on-year.
“Over the past year, we’ve held strong in the face of adversity. We’ve kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast,” according to Ken Hu, Huawei’s Rotating Chairman.
Despite operational difficulties brought about by US sanctions in 2019 and 2020, the company has continued to invite KPMG to independently and objectively audit our financial statements. The document produced by the global auditing firm is a standard unmodified audit opinion. No matter the circumstances, we will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners.
In 2020, Huawei’s carrier business continued to ensure the stable operations of more than 1,500 networks across more than 170 countries and regions, which helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing.
Huawei’s enterprise business stepped up efforts to develop innovative scenario-based solutions for different industries and create a digital ecosystem that thrives on joint creation and shared success over the past year. During the pandemic, the company provided technical expertise and solutions that were vital in the fight against the virus. One example is an AI-assisted diagnostic solution based on HUAWEI CLOUD that helped hospitals the world over reduce the burden on their medical infrastructure. Huawei also worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students.
With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei’s consumer business moved forward with its Seamless AI Life strategy (“1 + 8 + N”) to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness & health, smart home, easy travel, and entertainment.
Download a copy of the Huawei 2020 Annual Report here.