Huawei Announces 16.5% Fall in Revenue in Q1 2021 Compared to Previous Year

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Huawei announced its business results for the first quarter of 2021, which are in line with the forecast. In the first quarter, Huawei generated CNY (Chinese Yuan) 152,2 billion in revenue, a decrease of 16,5% over the previous year. Its network business has maintained steady growth, while consumer business revenue has declined, in part as a result of the sale of the Honor smart device brand in November 2020.

Eric Xu, rotating president of Huawei

Huawei's net profit margin increased 3,8 percentage points [1] year-on-year by 11,1% - the result of the company's continued efforts to improve the quality of operations and management efficiency, as well as royalty revenue US $ 600 million of patents.

"2021 will be another challenging year for us, but it is also the year in which our future development strategy will begin to take shape“Said Eric Xu, Huawei's rotating president. “We thank our customers and partners for their continued trust. Regardless of the challenges that arise, we will continue to maintain the resilience of our business. Not just to survive, but in a sustainable way. As always, we will continue to focus on the needs of our customers and continue to deliver practical business value. "

Huawei is making efforts to fully release the value of 5G. It is helping operators around the world to implement their 5G networks, meeting the demands of consumers and industries, while increasing their own delivery efficiency. It continues to improve its software engineering capabilities and increase investment in the software industry to gradually increase the proportion of software and services in its total revenue mix.

“As always, we remain committed to technological innovation and investing heavily in R&D as we work to face the challenges of continuity of supply caused by market restrictions”, stressed Xu. "We will continue to make advances in basic science and expand the frontiers of technology." [1] The financial data disclosed here are unaudited figures, compiled in accordance with International Financial Reporting Standards; exchange rate at the end of March 2021: $ 1 = CNY6,5670

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