Huawei today announced its results for the third quarter of 2020. In the third quarter of 2020, Huawei generated CNY 671.3 billion in revenue, up 9.9 percent year over year. The net profit margin in Q3 is 8.0 percent.
Huawei didn't go into detail about its various businesses, but the company said the following:
"As the world grapples with COVID-19, Huawei's global supply chain will be under severe pressure, and manufacturing and operations will face major challenges. The company continues to do its best to find solutions, survive and move forward, and meet its commitments to customers and suppliers.
In the future, Huawei will use its strengths in ICT technologies such as AI, cloud, 5G and computing to offer scenario-based solutions together with its partners, develop industrial applications and unlock the value of 5G networks. Its stated goal is to help companies grow their businesses and to help governments boost domestic industry, benefit the voters and improve general governance.
ICT has become a cornerstone of modern society and the main driver for sustainable social, economic and environmental development. Huawei believes that rapid and healthy development within the ICT industry will be based on open cooperation and mutual trust throughout the global industry. Therefore, despite the complex situation it currently finds itself in, the company will continue to work closely with its global partners and leverage its innovative ICT technologies to create greater value for customers. The company will continue to contribute to pandemic control, economic growth and social progress ".Huawei
Despite COVID-19 and the US embargo, Huawei continues to grow. Even if more slowly than last year. Nevertheless, it shows that Huawei is still able to withstand the odds.
But 2021 should then show how things really stand with Huawei. The manufacturer, known in Europe primarily for its smartphones and 5G network technology, is currently looking for new business areas to further expand its independence.
The article Huawei: Business Results for the 3rd Quarter 2020 Published - One Continues to Grow appeared first on Xiaomist .