News

Huawei 2021 Q1 business results show net profit margin is up, business remains resilient

Pinterest LinkedIn Tumblr

Huawei announced its business results for the first quarter of 2021 today, which were in line with the forecast.

In Q1, Huawei generated CNY152.2 billion in revenue, a 16.5-percent decrease year-on-year. Its network business maintained steady growth, while consumer business revenue declined, in part as a result of selling the Honor smart device brand in November 2020.

Huawei’s net profit margin was up 3.8 percentage points year-on-year at 11.1-percent – the result of the company’s ongoing efforts to improve quality of operations and management efficiency, as well as a patent royalty income of USD 600 million.

“2021 will be another challenging year for us, but it’s also the year that our future development strategy will begin to take shape,” said Eric Xu, Huawei’s Rotating Chairman. “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.”

ALSO READ: Huawei MateBook 2021 laptops with 11th gen processor, 16GB RAM available in the Philippines

Huawei is driving efforts to fully unleash the value of 5G. It is helping carriers around the world 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.

“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”, stressed Xu. “We will continue making breakthroughs in basic science and pushing the frontiers of technology.”

Technobaboy.com is one of the most active tech blogs in the Philippines. Our goal is to deliver interesting and relevant stories about the latest trends in technology, developments in mobile phones and social media, and modern digital and geek culture.

Write A Comment