Huawei earned $35 million everyday throughout the first half of the year

According to the Securities Times, Huawei Investment Holdings Co., Ltd. recently released its first half-year financial report in the inter-bank market. In the first half of 2020 (H1 2020), Huawei achieved an operating income of 450.7 billion yuan ($65.6 billion). This is a year-on-year increase of 13.67%. Within the same period, its net profit is 43.1 billion yuan ($6.2 billion), a year-on-year increase of 23.49%. This means that Huawei made about $35 million in profit every day throughout H1 2020. 

Huawei’s operating results for the first half of 2020 show that in the first half of 2020, the company achieved sales revenue of 454 billion yuan ($66 billion). This is a year-on-year increase of 13.1% and a net profit margin of 9.2%. 

Huawei’s H1 2020 report card looks great

Huawei’s consumer business has the highest revenue of 255.8 billion yuan ($36.5 billion). However, its carrier and enterprise businesses recorded 159.6 billion yuan ($22.8 billion) and 36.3 billion yuan ($5.1 billion) respectively.

Huawei’s H1 2020 business results show that the company is doing well despite the numerous ban. Recall that the U.S. did not ban Huawei and go to sleep. It is also putting pressure on its allies to also ban Huawei. The likes of Australia and New Zealand have since banned Huawei’s 5G equipment from their network. The latest country to ban Huawei from its 5G network is the U.K.

Despite all these, Huawei seems to be doing well, for now at least. In 2019, the company shipped about 240 million smartphones, a new record high. In April 2020, Huawei toppled Samsung to become the largest smartphone brand globally, a position it retained in May. Also, Huawei is currently the largest 5G smartphone vendor in the world. The company was able to achieve all these despite the ban from the U.S. and other allies. Huawei said

“As countries around the globe are grappling with the COVID-19 pandemic, information, and communications technologies (ICT) have become not only a crucial tool for combatting the virus, but also an engine for economic recovery. Huawei reiterated its commitment to working with carriers and industry partners to maintain stable network operations, accelerate digital transformation, and support efforts to contain local outbreaks and reopen local economies.

The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces”.