Today, Huawei announced its business results for the first half of 2020. The Chinese tech giant generated CNY454 billion ($65 billion) in revenue during this period, a 13.1% increase year-on-year, with a net profit margin of 9.2%. Huawei's carrier, enterprise, and consumer businesses achieved CNY159.6 billion, CNY36.3 billion, and CNY255.8 billion in revenue, respectively.
Revenue was almost stagnant in the first quarter in which the company faced a strong negative campaign by the United States. Criticism and suspicion were raised against Huawei's networking and 5G equipment saying that they must be avoided due to possible malicious use by the Chinese Communist Party. Huawei maintained that it was an independent company and hence its products were free of such risks.
Other countries have been skeptical of Huawei's 5G equipment as well. Boris Johnson has been hesitant to outright ban the company. Nevertheless, he has said that its involvement should be limited. But two of the biggest telecom firms in the United Kingdom, BT and Vodafone, have warned that customers in the country could face blackouts if they’re forced to remove Huawei products from their networks immediately. France is actively discouraging the use of Huawei's equipment as well.
Considering these precedents, in the official blog post announcing the business results, the firm emphasized that the "complex external environment makes open collaboration and trust in global value chains more important than ever." Huawei further added that it will "survive, forge ahead, and contribute to the global digital economy and technological development, no matter what future challenges the company faces."
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