Earlier today, Huawei had revealed its financial report for the first quarter of 2020. The figures showcased a low revenue growth and net profit margin but were still in line with expectations. However, the company still managed to sell over 450,000 smartphones in the Chinese market alone in March 2020.
According to the CEO and Founder of Huawei, Ren Zhegfei, the Chinese market is seeing growth, while the international market is facing a decline. This is probably due to the Chinese tech giant’s smartphone offerings being shipped without Google services due to the US trade ban back in 2019. Thus, the Huawei flagship P40 series will ship with Huawei’s own mobile services, HMS.
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While the Huawei Mobile Services are certainly a bit behind industry staples like Google and Apple, the company is still determined to enter the market and improve upon it. Ren Zhengfei even went on the state about the difficulties the Coronavirus has caused the company’s supply chain and also talked about its international management and remote working/conferences that they are heavily relying on.
In the interview, the senior executive revealed that the ongoing pandemic has made shipments and production difficult, but the company has also been seeing an increase in demand for tablets, computers and more, which ship with HMS pre-installed. Despite seeing meager growth in Q1, Huawei founder is confident that the annual financial report wouldn’t be impacted severely by the rocky start of the year and that the company is confident of its success in 2020.
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