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Huawei Business Result Q1 2021: Recorded CNY152.2 billion in revenue with a 16.5% decrease year-on-year

On April 28, 2021, Huawei releases the business results for the first quarter of 2021. As the company is still trying to overcome form its difficulties and this year will also be a challenging one.

In the first quarter of 2021, Huawei accounted for CNY152.2 billion in revenue with a 16.5% decrease year-on-year. The company’s network business remains unaffected throughout this time. However, the consumer business declined due to the impact of the US sanction as a result the company gave up on its Honor brand back in November 2020.

The net profit generated in Q! of 2021 is 11.1% with a 3.8% the increase in year-on-year rate. It’s the company’s hard work,  despite the sanction it’s consistently giving us next-level solutions and quality products.

China is one of the biggest patent holders across the world, it’s the main profit that it received patent royalty income of US$600 million (around 3889 Yuan). During the event, the company’s rotating chairman, Eric Xu shows his gratitude for its consumers as well as partners.

“2021 will be another challenging year for us, but it’s also the year that our future development strategy will begin to take shape,”said Eric Xu

“We 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.”

Huawei is on the rise in terms of the 5G communication network. Many firms are adopting its Massive MIMO 5G technology as well the company is also preparing for the 6G white paper.

To be mentioned, Huawei and China Mobile will jointly launch two satellites for the 6G wireless network, which will come into action in July this year.

Also, check:

Huawei Investment & Holding released Q1 2021 business results with 150.57 billion yuan operating income and 16.85 billion yuan of net profit

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