Huawei’s results reflect strong presence, despite challenges

AMMAN — Huawei’s financial results for 2020, revealed on Wednesday, reflected the company’s capability to compete in a complex global environment and overcome challenges, emerging as a result of the COVID-19 pandemic.

The company, which revealed its results during a virtual press conference, said its performance was largely in line with business expectations, despite having to go through a phase of slower growth. 

Huawei ensured business continuity and timely delivery for all customers, despite the challenges resulting from the COVID-19 pandemic, the company said during the press conference. 

Its sales revenue stood at around $136.7 billion, up 3.8 per cent year-on-year while its net profit totalled $9.9 billion, up 3.2 per cent year-on-year, according to the company.

Throughout lockdowns incurred due to COVID-19, Huawei carrier division continued to ensure stable operations of over 1,500 networks in more than 170 countries and regions, supporting telework, online learning, and online shopping.

Working with operators around the world, it has contributed to the development of more than 3,000 5G innovation ventures in more than 20 sectors, including coal mining, steel processing, ports, and manufacturing, it said during the press conference.

Huawei's enterprise business has been working diligently over the last year to develop creative scenario-based solutions for various industries.

It offered technological capabilities and solutions that were crucial to the fight against the new COVID virus during the pandemic. HUAWEI CLOUD-based AI-assisted diagnostic solution was one of the ways it helped hospitals all over the world to reduce strain on their medical infrastructure.

Moreover, the company partnered with different business entities to launch cloud-based online learning platforms for over 50 million students in primary and secondary school.

Huawei's consumer business stepped forward with its “Seamless AI Life strategy” to provide consumers with an “intelligent” experience across all devices and scenarios, focusing on smart office, fitness & health, smart home, easy travel, and entertainment, according to the company’s press conference. 

The number of Huawei smartphone users exceeded 730 million. Research and Innovation employed 53.4 per cent of Huawei's workforce in 2020. Over 700 cities and 253 Fortune Global 500 companies chose Huawei as their partner for digital transformation.

"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.”said Ken Hu, Huawei's rotating chairman.

Huawei has been operating in the Middle East for more than 20 years.