Huawei announced its business results for the first quarter of 2021 today, which were in line with forecast.
\nIn Q1, Huawei generated CNY152.2 billion in revenue, a 16.5% 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\u2019s net profit margin was up 3.8 percentage points[1] year-on-year at 11.1% \u2013 the result of the company\u2019s ongoing efforts to improve quality of operations and management efficiency, as well as a patent royalty income of US$600 million.
\n\u201c2021 will be another challenging year for us, but it\u2019s also the year that our future development strategy will begin to take shape,\u201d said Eric Xu, Huawei\u2019s Rotating Chairman. \u201cWe 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.\u201d
\nHuawei 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.
\n\u201cAs 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\u201d, stressed Xu. \u201cWe will continue making breakthroughs in basic science and pushing the frontiers of technology.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Huawei announced its business results for the first quarter of 2021 today, which were in line with forecast. In Q1, Huawei generated CNY152.2 billion in revenue, a 16.5% 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 […]<\/p>\n","protected":false},"author":2,"featured_media":189002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,15],"tags":[],"class_list":["post-188990","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-technology"],"yoast_head":"\n