Huawei has released its 2020 Annual Report, indicating a 3.2% rise in net profit to Ksh. 1.08 trillion ($9.9 billion) compared to the previous year. Sales revenue also increased by 3.8% to Ksh. Ksh. 15 trillion ($136.7 billion) compared to the previous year.
In 2020, Huawei’s carrier business continued with stable operations of more than 1,500 networks across more than 170 countries and regions. These operations helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries.
During the COVID-19 pandemic, Huawei provided technical expertise and solutions that were vital in the fight against the virus. The solutions included an AI-assisted diagnostic solution based on Huawei Cloud, which helped hospitals around the world reduce the burden on their medical infrastructure. Huawei also worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students.
With the launch of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei’s consumer business moved forward with its Seamless AI Life strategy. This provided consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness and health, smart home, easy travel, and entertainment.
“Over the past year we’ve held strong in the face of adversity. We’ve kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast,” said Ken Hu, Huawei’s Rotating Chairman.
All financial statements in the 2020 Annual Report were independently audited by KPMG, an international Big Four accounting firm.