Tuesday, 14 July 2020 09:00

Despite hurdles, Huawei reports revenues rose in first half of 2020

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Despite hurdles, Huawei reports revenues rose in first half of 2020 Image by Gerd Altmann from Pixabay

Chinese telecommunications equipment vendor Huawei Technologies says its revenue for the first half of calendar 2020 was 451.7 billion Chinese yuan (A$92.8 billion), an increase of 13.1% year-on-year with the net profit margin being 9.25%.

The amounts mentioned were based on the rate of one American dollar being equal to 7.067 Chinese yuan.

In a statement, the company said its carrier, business earned 159.6 billion Chinese yuan, while the enterprise section pulled in 36.3 billion Chinese yuan and the consumer businesses earned 255.8 billion Chinese yuan.

Huawei did not offer any further breakdowns, but said ICT technologies had become a crucial tool for combatting the coronavirus and also an engine for economic recovery.

The company 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," it said.

"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."

Huawei has faced immense pressure on its operations for a number of years, with the US pushing countries it deems allies to block deployment of the firm's 5G gear, claiming that this would open networks to spying by the Chinese Government. Huawei has strongly denied such claims.

Other measures taken by the US have resulted in Huawei being unable to use Google's proprietary Android operating system on its smartphones.

More recently, the Americans said they would make changes in the country's Foreign Direct Product Rule which prevents a company from buying goods that are produced using American technology or equipment, no matter whether the firm making them is American or not.

Strict imposition of this rule would make it impossible for Huawei to obtain advanced semiconductors which it uses in its 5G base stations, among other products, from any firm that uses US equipment or technology – and most do.

That rule is set to take effect later this year. Washington has also declared Huawei as being either owned or controlled by the People's Liberation Army.


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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