Huawei recently unveiled its business results for the first three quarters of 2020. As per the results, Huawei has produced CNY671.3 billion in revenue which incorporates an increase of 9.9% over the same period last year. Moreover, it has come to light that the company’s net profit margin in this period was 8.0%. Huawei’s business results for the first three quarters has not just met expectations but has also been quite impressive, despite the challenges.
Due to COVID-19, the world is going through very tough times and Huawei’s global supply chain is also being put under intense pressure due to it. Not forgetting the US restrictions, its production and operations have faced significant challenges. Even with all these trying times, the company has continued to do its best to find more solutions, survive, and forge forward. Similarly, they have put their full efforts in fulfilling its obligations to customers and suppliers.
Apart from the telecom business, Huawei has been putting its efforts into several ICT technologies, which are now developing into its strengths. We already know from many events that Huawei has organized over the last few months that it will leverage those strengths in AI, cloud, 5G, and computing.
With such technological strength, Huawei is focusing on providing different solutions for specific use cases, develop industry applications, and create more value with the 5G network for its partners. Adding on, we also know that its stated goal is to help enterprises grow their business and help governments boost the domestic industry, benefit constituents, and improve overall governance.
In this modern society, ICT tools have been the main driver for socioeconomic and environmental development. So, Huawei anticipates open collaboration and mutual trust across the global industry for the achievements. Only such collaboration can beget the development of the whole ICT ecosystem.
According to them, there is a need of close functioning and partnership among all stakeholders. That activity using innovative ICT technologies is key to create more value for customers despite the difficult situation. The company emphasises to continue their contribution to the society for pandemic responses, economic growth and social progress.
As per Huawei, the above report is based on the unaudited financial data for the third quarter of 2020.
What do you see Huawei’s major strength in remaining firm as before, despite the difficult circumstances? Please comment below.