Huawei Technologies recorded a slight annual profit growth last year. This modest growth arrived as the company saw a decline in its overseas revenue due to the impacts of the coronavirus pandemic and affects of the US sanctions.

According to a Reuters report, the Chinese tech giant’s net profit for the year 2020 came in at 64.6 billion Yuan (roughly 9.83 billion US Dollars). This marks a rise of about 3.2 percent compared to the smartphone vendor’s 5.6 percent growth from a year prior. Back in 2019, Huawei was placed on the US export blacklist, the Entity List, which banned the company from acquiring crucial technology that originated from the US.

This affected the company’s ability to design its own chip or source components from outside vendors as well. Furthermore, the ban led to increasing pressure against the vendor’s smartphone business, with Huawei even selling off its budget smartphone unit to a Chinese consortium of agents and dealers back in November 2020. Despite the various obstacles, the company still managed to register a 3.3 percent year on year growth in consumer business, which accounted for over half of its revenue.

This growth was partly due to the company’s growth in other product ranges like smartwatches and laptops. Similarly, even its telecommunications unit, which includes its 5G networking equipment, saw a rise of 0.2 percent as well last year. Most of Huawei’s growth was primarily driven by its home market, with revenue from China rising up to 15.4 percent in 2020. Meanwhile, its revenue from Europe, the Middle East and Africa falling by 12.2 percent, while its revenue from Asia falling by 8.7 percent and down by 24.5 percent in the Americas.

RELATED:

• FCC aims to plug loophole allowing Huawei equipment in US 5G Network
• Huawei announces new generation of camera technologies and camera products
• Huawei to release HarmonyOS Beta 3 later this month; stable version coming in April

The post Huawei sees 3.2% rise in profits in 2020, while revenue declines outside of China appeared first on Gizmochina.

We are sure Huawei must have thrown a party for its staff after this news was announced. The company’s Senior Vice President, Yu Chengdong Yu Chengdong announced on his Weibo page that  the company has shipped 60.56 million phones this year which is an increase of 25% from last year.

This is exciting news for the company as this figure is the annual target for quite a number of manufacturers seeing that we’ve just started the second half of the year.

The company’s smartphone revenue for the first half which increased by 41% from last year is about 77.4 billion Yuan ($11.59 bn). The company’s share of the global smartphone market is now at 11.4%, coming in at third place behind Samsung and Apple.

Worldwide Growth

The company has also posted details of their market in certain countries such as the UK where they have 3.9% of the market, 6.7% in France and 9.6% in Germany. The company has also recorded a 700% brand growth in Egypt, 200% in Chile and 134% in Peru.

Part of the company’s top products include the Mate 8, the P9 and P9 Plus, the MateBook and the Huawei Watch

READ MORE: Huawei H1 Revenue

Congratulations to Huawei.

Do you think part of Huawei’s success this year can be attributed to their Nexus 6P partnership with Google? Let’s see your opinions in the comment box below.

The post Huawei Shipped Over 60 Million Phones In H1 2016 appeared first on Gizmochina.