SINGAPORE (Apr 21): Huawei has managed to grow its revenue by 1.4% in the first quarter, even though the telecom and IT giant got to deal with the Covid-19 outbreak in its home market China and across many markets where it is active in.
For the first three months this year, its revenue increased by 1.4% y-o-y to RMB182.2 billion. Its net margin in the same period was 7.3%, which is somewhat similar to it achieved in FY2019.
For its FY2019, Huawei recorded revenue of RMB 858.8 billion, up 19% from FY2018. Earnings in the same period was up 5.6% to RMB62.7 billion.
The employee-held company describes the 1Q results as “within expectations”.
Since the Covid-19 outbreak, Huawei and its industry partners have helped launch 5G-based applications, such as remote video medical consultations.
It has also introduced AI-assisted technology, riding on 5G networks, so that certain medical services can be delivered more efficiently.
For example, in Thailand, the Siriraj Hospital in Bangkok, using Huawei’s technologies, is able to make it faster for automatic diagnosis of CT scans to be carried out.
In Singapore, Huawei has helped to install additional wireless networking capacity at workers’ dormitories, so that the workers under quarantine can enjoy better mobile coverage and faster internet access.
“It is our hope that the pandemic ends as soon as possible,” says Eric Xu, Huawei’s Rotating Chairman.
“We also hope that every patient around the world can be treated and cured as quickly as possible. The outbreak of COVID-19 is another reminder that we share this world and share the same fate,” he adds.
