Huawei posts flat revenue Q1, remains positive of market share increase
Huawei made about as much money in Q1 of 2020 as in Q1 of 2019. The company’s total revenue was CNY 182.2B ($25.75B) – a 1.4 percentage point increase over the CNY 179.7B ($25.43B) of last year’s Q1.
Meanwhile net profit in Q1 of 2020 dipped to 7.3%, compared to 8% of Q1 2019.
Huawei claims its operations are continuing as usual, despite the current pandemic. The maker is even confident that it will increase its global market share, despite the expected 20% decline in global shipments.
As the pandemic slowed in China, local revenue managed to recover in March. But Huawei is seeing a slow-down outside its home market, including Huawei’s 5G deployment business.
