#AgainstAllOdds: Huawei's revenue increased in 2020 to around PHP 6.59 trillion

Huawei's 2020 Annual Report yesterday revealed that the company's growth slowed, but its revenue still increased.

Ken Hu, Huawei's Rotating Chairman

Huawei's 2020 revenue report

The Chinese tech giant shared that it recorded a sales revenue of CNY 891.4 billion (around PHP 6.59 trillion) or up by 3.8 percent year-on-year. Meanwhile, the company's net profit reached CNY 64.6 billion (around PHP 477.8 billion) o 3.2 percent year on year.

This growth happened despite the operational difficulties brought about by US sanctions in 2019 and 2020 as well as the challenges presented by the global Coronavirus pandemic.

The numbers presented by Huawei were audited by independent firm KPMG for transparency.

In 2020, the company shared that its carrier business continued to ensure the stable operation of more than 1,500 networks in more than 170 countries and regions, which helped support telework, online learning, online shopping, and communications, throughout the COVID-19 lockdowns.

Huawei also shared that it moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing.

For its enterprise business, the company noted that it has stepped up its efforts to develop innovative scenario-based solutions for different industries. Huawei provided technical expertise and solutions that were vital in the fight against the virus like the AI-assisted diagnostic solution based on HUAWEI CLOUD that helped hospitals the world over reduce the burden on their medical infrastructure.

Together with its partners, the company also launched cloud-based online learning platforms for more than 50 million primary and secondary school students.

The company added that its consumer business moved forward with the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem. Its seamless 1+8+N AI Life strategy also provided consumers an intelligent experience across all devices and scenarios, focusing on smart office, fitness & health, smart home, easy travel, and entertainment.

Over the past year we've held strong in the face of adversity, said Ken Hu, Huawei's Rotating Chairman. We've kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast.

We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development.

You can check Huawei's full annual report at this link.