Huawei posts $25.7bn revenue in Q1 amid COVID-19


22nd April, 2020 07:45:27 printer

Huawei posts $25.7bn revenue in Q1 amid COVID-19

 Chinese tech giant Huawei generated US$ 25.7 billion in revenue in the first quarter (Q1) of 2020, an increase of 1.4 percent year-on-year (YoY).

In Q1, the company’s net profit margin stood at 7.3 percent, said Huawei in a media statement today.

It said Huawei’s business is continuing as usual and its overall business results in Q1 2020 are in line with expectations although COVID-19 continues to spread around the world.

The company and its supplier network are working together to address the tough challenges facing production and resume operations.

“It is our hope that the pandemic ends as soon as possible . . .In order to address common challenges such as this one, we need to be united, because a virus knows no borders and may target anyone, regardless of their race, skin color, or wealth,” said Eric Xu, Huawei Rotating Chairman.

Since the outbreak, Huawei and its partners have rapidly launched many 5G- and AI-powered medical applications.

“We are using our expertise in communication technologies to help fight the pandemic and save more lives,” it said.

The AI-assisted coronavirus diagnosis solution cuts CT scan review times from 12 minutes down to 2, helping doctors improve their diagnostic efficiency.

5G-enabled remote video consultation helps mitigate shortages of frontline experts and increases the efficiency of diagnosis and treatment of critical patients.

AI-powered thermal imaging devices can take temperatures, increasing the efficiency of infection prevention and control in public places.

In Asia Pacific region and ASEAN countries, Huawei has joined hands with countries like Indonesia, Malaysia, Thailand, Philippines, Singapore, Brunei, Bangladesh, Cambodia, Laos and others to address on-ground communication challenges, ensuring connectivity and supporting essential services with innovative technologies during the COVID-19 pandemic.