Huawei reports strong results despite global slump
Tuesday, 21 April 2020
Huawei has been at the forefront of 5G development and deployment, with over 30 5G contracts secured so far in Europe.
Huawei today announced its business results for the first quarter of 2020. In Q1 of this year, Huawei generated CNY182.2 billion in revenue, an increase of 1.4% year-on-year. The company’s net profit margin in Q1 2020 was 7.3%.
Commenting on the results and the continued roll out of 5G in Europe , Abraham Liu, Huawei Chief Representative to the EU Institutions, said that “Huawei stands ready to work with the European Union on standards and solutions that will ensure 5G is fully compatible with core European values. Huawei understands Europe; we have been operating here for 18 years. Huawei cares about a strong and united Europe. We are ready to work with the EU to roll out 5G the European way.”
As COVID-19 continues to spread around the world, Huawei noted it is taking proactive measures to ensure the safety of its employees. The company and its supplier network are working together to address the tough challenges facing production and resume operations, a spokesperson also said. Furthermore, Huawei’s business is continuing as usual and its overall business results in Q1 2020 are in line with expectations.
Since the outbreak, Huawei and its partners have launched several 5G- and AI-powered medical applications. The company is using its expertise in communications technologies to help fight the pandemic and save more lives, a spokesperson additionally commented. The AI-assisted coronavirus diagnosis solution cuts CT scan review times from 12 minutes down to 2, helping doctors improve their diagnostic efficiency. 5G-enabled remote video consultation helps mitigate shortages of frontline experts and increases the efficiency of diagnosis and treatment of critical patients. AI-powered thermal imaging devices can take temperatures, increasing the efficiency of infection prevention and control in public places. In addition, the company announced that it has been delivering masks, test kits, and other protective supplies to the countries and organizations that need them.