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CHINA BRIEF | Huawei sees faster growth and improved profitability in Q2

Huawei reported a 13.1% revenue growth and 9.2% net profit margin for the first half of 2020.

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Chinese telecom infrastructure provider and smartphone vendor Huawei generated RMB 454 billion (USD 64.2 billion) in revenue in the first half of 2020, up 13.1% year-on-year (YoY), according to the financial results released by the company on Monday.

This points to a recovery in the second quarter—although it did not provide details for the period from April to June—as Huawei reported only a 1.4% YoY revenue increase in the first quarter, the slowest growth rate in recent years.

The tech giant’s profitability also improved in the second quarter, as the net profit margin hit 9.2% for the first six months. It was only 7.3% in the first quarter.

“Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the it faces,” said the company in a statement.

36Kr is KrASIA’s parent company.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.