Today, Huawei has officially released its business results for the first quarter of 2022. According to Huawei, the company has gained a sales revenue of 131 billion yuan with a net profit margin of 4.3% in Q1 of 2022.
As compared to 2021’s data, the Huawei sale’s revenue in Q1 of 2022 fell by 13.9% year-on-year. On this subject, Huawei’s Rotating Chairman – Ken Hu said that in the first quarter our overall business results were in line with forecasts. Our consumer business was heavily impacted, and our ICT infrastructure business experienced steady growth.
“We have yet again increased our investment in R&D to harness the momentum of our innovation and create new value for customers,” said Hu
At last, Ken Hu added that we want to thank our customers and partners for their ongoing trust and support for the company. Further, in 2022, despite considerable operational challenges, we will work more closely with our customers and partners around the world to overcome adversity.
According to information, a Huawei spokesman said the company had taken steps to meet consumer demand for smartphones. Huawei consumers can now more easily buy smartphones including the latest best-selling models such as its flagship P50 and Nova series devices. (Via: Reuters)
As per the counterpoint report, Huawei covered 6.2% of the Chinese smartphone market in the first quarter of 2022. On the other hand, its former subsidiary Honor’s share reached 16.9%.