• - Huawei Financial Report for the First Quarter of 2021 - Revenue Reduction, as Expected

    Huawei Financial Report for the First Quarter of 2021 - Revenue Reduction, as Expected
    23 Days, 4 Hours ago

    Tags:  Statistics  -  Financial-Report  -  Huawei

    Huawei released its financial report for the first quarter of 2021 on Wednesday, April 28, 2021; According to the report, Huawei's revenue in the first quarter of this year amounted to 152.2 billion yen (with the current exchange rate close to $ 23.5 billion), which compared to the same period last year shows a decrease of 16.5 percent. Huawei gives an overview of this statistic, which speaks of the positive performance and sustainable growth of the company's network business, and links the decline in revenue to the decline in customer business revenue; The fact that Honor brand sales in November 2020 have the most impact. Huawei Financial Report for the First Quarter of 2021 - Revenue Reduction, as Expected

    On the other hand, as a positive point, we should mention the net profit margin of Huawei, which has grown to 11.1% with a growth of 3.8% compared to last year. Huawei attributes this profit margin improvement to $ 600 million in patent revenue, in addition to the company's current efforts to improve operating quality and management efficiency. The patent appears to be largely the property of Huawei 5G patents, which will inject new financial flows into the company.

    Eric Xu, Huawei's rotating president, described 2021 as another challenging year for the company, adding: "But [this year] is also the year that our future development strategy will begin to take shape. We thank our customers and partners for their continued trust. Regardless of the challenges ahead, we will continue to maintain the viability of our business. Not just for survival but for sustainability. "As always, we will focus on the needs of our customers and continue to deliver practical business value." Above all, we need to look at the drop caused by the sanctions in the company's consumer business, which includes smartphones and other devices of this brand. Huawei was barred from including Google services on its Android devices in mid-2019, and then lost access to major processor makers last year. These problems continued until, in November 2020, the Honor brand was handed over to a consortium of several different investors to pull part of the complex out of the pressure of sanctions.

    Huawei concludes its report by focusing on the two areas of 5G and software; Where in the first place the company's efforts are to help operators around the world to provide 5G networks and meet the needs of customers and industries, and in the field of software by improving software engineering capabilities and increasing investment in this area to increase the revenue ratio to Huawei's total revenue is moving.

    Source: Huawei

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