Shenzhen – Huawei today announced its business results for the first quarter of 2021, which were on plan. In the first quarter, Huawei generated revenue of CNY 152.2 billion, down 16.5% year-on-year. Its network business maintained steady growth, while revenue from consumer activities declined, in part due to the sale of the Honor smart device brand in November 2020. Huawei’s net profit margin increased by 3 , 8 percentage points. year-over-year at 11.1% – the result of the company’s continued efforts to improve the quality of operations and management efficiency, along with patent royalty income of $ 600 million US. “2021 will be another difficult year for us, but it is also the year when our future development strategy will start to take shape,” said Eric Xu, rotating president of Huawei. “We thank our customers and partners for their continued confidence. Whatever challenges we face, we will continue to maintain the resilience of our business. Not only to survive, but to do so in a sustainable way. As always, we will remain focused on the needs of our customers and continue to deliver practical business value. ”Huawei strives to fully unleash the value of 5G. It helps operators around the world to deploy their 5G networks, meeting the needs of consumer and industry demands, while improving its own delivery efficiency. It continues to improve its software engineering capabilities and increase its investments in the software sector to gradually increase the proportion of software and services in its total revenue mix. “As always, we remain committed to technological innovation and invest heavily in R&D as we strive to meet the challenges of continuity of supply caused by market restrictions,” said Xu . “We will continue to make inroads in basic science and push the frontiers of technology.”
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