Huawei reports positive H1 2020 financial results

The first half of 2020 is already behind our backs and companies have started issuing their financial reports for the past auditing periods. Huawei has reported in a press release that both the revenue and the net profit increased on a yearly basis, respectively 13.1% and 9.2%.

The numbers say the revenue was CNY454 billion, which is slightly over $64 billion in today’s exchange rates. The carrier business achieved CNY159.6 billion, the enterprise division scored CNY36.3 billion, and the consumer business which includes the mobile devices reached CNY255.8 billion in revenue.

Simple math reveals that more than half of Huawei’s income comes from phones, tablets, and wearables, among other mobile devices, while the carrier business that is the main reason for the trade ban in the United States brings only 35% of the pie.

More reports on H1 and Q2 are expected to arrive later this month where we’ll see the bigger picture of the global smartphone market reacting to the first wave of the COVID-19 epidemic, and where does Huawei stack against its competitors.