Huawei 2021 Q1 Revenues Drop By 16.5 Percent

0
Huawei Founder
Huawei's CEO Ren Zhengfei

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


Previous articleUpcoming Online School Kidato Raises KES 150 Million for Expansion
Next articleTECNO Camon 17 Series Launches Tonight in Kenya
Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]