Huawei opens its largest overseas flagship store in Saudi Arabia


Huawei

Chinese manufacturing giant, Huawei, is still struggling in the smartphone market. However, Huawei is much more than just smartphones, thus, it has a whole lot to do besides smartphones. The company recently opened its largest flagship store outside China. This store is located in Riyadh, the capital of Saudi Arabia. Officials from the Saudi Ministry of Investment and the Ministry of Communications and Information Technology attended the opening event.

Huawei Store

The Huawei Riyadh flagship store is located in the center of the “Riyadh Frontline” commercial complex. The flagship store has 2 floors and covers an area of ​​more than 2,000 square meters. It displays Huawei’s latest products and technologies in the fields of 5G, artificial intelligence, and mobile cloud services.

According to reports, Huawei’s flagship store has hired more than 40 Saudi employees as product consultants to provide customers with purchasing advice and technical support. Customers can experience smart products in themed scenarios such as smart home, mobile office, fitness, travel, and entertainment in the store.

Huawei remains in a very difficult situation

Although Huawei is still in a difficult period, Shanghai Securities claims that the company still provides more than 50 billion yuan ($7.8 billion) for dividends. According to the report, after multiple verifications, Huawei’s 2021 stock dividend plan is now official. The company will continue to implement stock dividends, which are expected to be 1.58 yuan per share.

As of December 31, 2020, Huawei’s total share capital was approximately 34.7575 billion shares. An insider said…”The past year has been a year of large turnover of Huawei’s personnel. Many talents have newly joined Huawei, and many people have left Huawei. However, we continue to issue additional shares. Many shares have also been repurchased, and overall, the total share capital should not change much“. Considering its number of shares and the 1.58 yuan per share, Huawei will spend more than 50 billion yuan ($7.8 billion) in dividends. 

According to the company’s previous forecast, the annual sales revenue in 2021 will be about 634 billion yuan ($99.6), which will drop by 29% compared to 2020. Its official website shows that Huawei Investment Holdings Co., Ltd. is a 100% employee-owned private enterprise. The company implements the employee stock ownership plan through the labor union. Also, as of December 31, 2020, the number of participants in the employee stock ownership plan was 121,269, and all participants were company employees.

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Huawei’s internal equity plan began in 1990. The founder Ren Zhengfei held the company’s shares as a natural person shareholder. At the same time, Ren Zhengfei also participated in the employee stock ownership plan. As of December 31, 2020, Ren Zhengfei’s total investment was equivalent to approximately 0.90% of the company’s total share capital.

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