Like many companies across the globe feeling the impact of the COVID-19 pandemic, 2020 has proved a tough year so far for Huawei.
Added to this is the increased scrutiny that the company has received with regards to its 5G hardware, most notably in the US and UK, but despite all that, Huawei has managed to post some positive figures in its earnings report for H1 2020.
To that end it posted a 13.1 percent year-on-year revenue increase for the first half of 2020, as well as a net profit margin of 9.2 percent.
Looking closer at the company’s three divisions – carrier, enterprise and consumer business – they achieved revenues of CNY159.6 billion, CNY36.3 billion, and CNY255.8 billion, respectively.
While Huawei has not offered up more insight into what aspects of the business have resulted in H1 2020’s growth, or indeed what regions have proved the most successful, the company did note where its focus will be moving forward.
Unexpectedly, Huawei appears to be focusing on helping industries and economies bounce back from the effects of COVID-19 as best it can.
“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,” the company’s report explained.
“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,” it added.
Precisely what guise this will take remains to be seen. 5G is no doubt a large part of the company’s plans, and we’ve already seen the initial stages of this in South Africa for example.
How other regions will react to Huawei working on critical infrastructure is unclear though, with the UK already mulling over its decision and the US still featuring the company on its entity list.
“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,” the report concludes.
With the first half of 2020 proving relatively positive, it should be interesting to see how the second half pans out.