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Huawei's 2020 profit increased despite US attacks and pandemic

Chinese tech giant Huawei resists going down despite harassment by the former Trump administration, gains an 11.2 percent increase in revenue in the rough year of 2020.
Huawei's 2020 profit increased despite US attacks and pandemic
File photo: A Huawei store in China

Huawei's 2020 profit!

The financial news website yicai.com reported that Huawei manages to record a revenue of USD 136.7 billion (around PHP 6,617,168,550,000) last year which was up by 11.2 percent year-on-year (YoY), and its profit went up to 10.4 percent to USD 9.9 billion (around PHP 479,224,350,000). The data are all based on unaudited internal accounting.

These numbers mean that Huawei remained strong and gained over USD 100 billion in revenue despite being targeted by the US government. Trump has put Huawei on a tough spot by blacklisting and putting restrictions on essential technology and parts preventing them from acquiring these key components.

For the primary three quarters of 2020, Huawei's income garnered CNY 671.3 billion (around PHP 5,037,324,603,900) which is up by 9.9 percent from the comparing period the past year.

Huawei is expected to release its annual income report in March or April.

Independently, the tech giant is reportedly distributing 10 billion yuan as dividends to their employees with an estimation of 1.86 yuan per share.

Source: Global Times

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