Industry

Huawei to disclose steady business performance in 2020

The world’s leading ICT solutions, equipment and services provider, Huawei is going to disclose its annual business report of 2020 on Wednesday (March 31).

The company is going to share the report in a global online press conference from Shenzhen in China, said a press release.

Media people, analysts, its partners and customers, and interested people can join the press conference virtually on different official social media platforms of this company.

In an announcement of this upcoming press conference, Huawei has shared that despite the difficulties and challenges posed by a complex international environment and COVID -19, it has achieved steady business performance and continued to create customer and social value.

As per last annual report, Huawei earned USD 123 billion in 2019 ensuring 19.1 percent YoY growth from 2018. And company’s global revenue for the first half of 2020 was rounded off at USD 69.4 billion, up 13.1 percent year-on-year, with a net profit margin of 9.2 percent.

This private company, wholly owned by its employees, believes that 30 years of heavy investment in R&D, its focus on customer needs, and the dedication of its 190,000+ employees have been key reasons for success over years.

Over the past 30-plus years, it has invested 10% to 15% of its annual revenue into R&D. In 2018 alone, its R&D spending reached 15 billion US dollars, making Huawei the fifth largest R&D spender worldwide according to the 2018 EU Industrial R&D Investment Scoreboard.

Huawei, has recorded its biggest ever annual jump in the number of patents it owns last year and consequently become one of the world's largest patent holders surpassing all its contenders in the market.

By the end of 2020, Huawei held over 100,000 active patents in more than 40,000 patent families worldwide, up from just over 85,000 active patents at the end of 2019. This is the company’s biggest ever annual increase in terms of patent ownership.

And recently, Global TD-LTE Initiative (GTI) chose Huawei for the 2021 Market Development Award for its 5G Private Network for Hualing Xianggang project, recognizing Huawei's outstanding contributions to the promotion of scaled commercial development and industry maturity of 5GtoB.

Over 700 cities and 228 Fortune Global 500 companies have already chosen Huawei as their digital transformation partner.

Source: United News of Bangladesh