Huawei today announced the operating results for the first quarter of 2020. In the first quarter of 2020, Huawei’s sales revenue was 182.2 billion yuan ($25.76 billion), a year-on-year increase of 1.4%. It stated that Huawei’s various businesses are operating normally and the overall operating results are in line with expectations.
How about Huawei’s smartphone sales in China and overseas? Ren Zhengfei said that it should be increased. But the amount of growth is not clear. ‘I only know that the sales volume in the Chinese market is about 450,000 a day. But the international market is facing a decline. It started to grow after April, and the monthly sales volume is expected to be more than 20 million units. However, due to the plague, our tablets, computers … the sales of related businesses have increased by 5-6 times. By the way, these tablets have been pre-installed with our HMS operating system.’
Also Read: Huawei’s Revenue Increases In 2019, But 2020 Will Be A Difficult Year
Ren Zhengfei predicted that the revenue target plan for the first quarter will decline appropriately. It is estimated that the annual revenue target plan will not have an impact. We are confident to achieve this year’s sales target and profit target.
Huawei’s sales revenue in 2019
If you remember, at the end of March, Huawei announced its 2019 annual report. The annual report shows that Huawei’s full-year revenue in 2019 was 858.8 billion yuan ($121.44 billion), an increase of 19.1% year-on-year, net profit was 62.7 billion yuan ($8.87 billion), and cash flow from operating activities was 91.4 billion yuan ($12.92 billion), an increase of 22.4% year-on-year.
Huawei continued to invest in technological innovation and R&D. the R&D expenses amount to 131.7 billion yuan ($18.62 billion), accounting for 15.3% of annual sales revenue. The total R&D expenses invested in the past decade have exceeded 600 billion yuan ($84.85 billion).