Huawei has earned $69.4 billion in the first half of 2020 ensuring 13.1 percent year-on-year (YoY), with a net profit margin of 9.2 percent.
According to the last annual report, Huawei earned $123 billion in 2019 with 19.1 percent YoY growth from 2018.Huawei believes that 30 years of heavy investment in R&D, its focus on customer needs, and the dedication of its more 190,000 employees have been key reasons for success over years.
Over more than 30 years, it has invested 10 to 15 percent of its annual revenue into R&D.
The 2018 EU Industrial R&D Investment Scoreboard states that its R&D spending reached $15 billion, making Huawei the fifth largest R&D spender worldwide in 2018 alone.
In addition, Huawei is going to disclose its annual business report of 2020 today on Wednesday through a global online press conference from Shenzhen, China.
Huawei has shared that despite the difficulties and challenges posed by a complex international environment and COVID -19, it has achieved steady business performance and continued to create customer and social value.
Earlier, Huawei has also recorded its biggest ever annual jump in the number of patents it owns last year and consequently become one of the world’s largest patent holders surpassing all its contenders in the market.By the end of 2020, Huawei held over 100,000 active patents in more than 40,000 patent families worldwide, up from just over 85,000 active patents at the end of 2019.
This is the company’s biggest ever annual increase in terms of patent ownership.
Global TD-LTE Initiative (GTI) chose Huawei for the 2021 Market Development Award for its 5G Private Network for Hualing Xianggang project, recognizing Huawei’s outstanding contributions to the promotion of scaled commercial development and industry maturity of 5GtoB.
Over 700 cities and 228 Fortune Global 500 companies have already chosen Huawei as their digital transformation partner.