Huawei’s business results for 2021 Q1 have been revealed.
During the quarter, the technology corporation generated USD 23.17 billion in revenue. This marks a 16.5% slip compared to the same period in 2020.
The network business maintained steady growth.
Consumer business revenues dropped. The development has been linked to the company’s sale of the Honor business in late 2020.
The company’s net profit margin grew by 3.8 percentage points YoY at 11.1%. The numbers have been linked to the corporation’s improvements in quality of operations and management efficiency.
Patent royalty stood at US$600 million.
Furthermore, Huawei adds that it is driving efforts to fully unleash the value of 5G. It is helping carriers around the world, including Kenya, roll out their 5G networks, meeting the demands of consumers and industries alike while boosting its own delivery efficiency.
It continues to improve its software engineering capabilities and ramp up investment in the software sector to gradually increase the proportion of software and services in its total revenue mix.
Quotes
2021 will be another challenging year for us, but it’s also the year that our future development strategy will begin to take shape. We thank our customers and partners for their ongoing trust. No matter what challenges come our way, we will continue to maintain our business resilience. Not just to survive, but do so sustainably. As always, we will remain focused on the needs of our customers and keep delivering practical business value.
As always, we remain committed to technological innovation and investing heavily in R&D as we work to address supply continuity challenges caused by restrictions in the market. We will continue making breakthroughs in basic science and pushing the frontiers of technology
Eric Xu, Huawei’s Rotating Chairman
