Huawei Q1 2020 revenue tops US $ 25 Bn
Huawei today announced its business results for the first quarter of 2020. In Q1 of this year, Huawei generated US$ 25.69 billion CNY182.2 billion in revenue, an increase of 1.4% year-on-year. The company’s net profit margin in Q1 2020 was 7.3%.
As COVID-19 continues to spread around the world, Huawei is taking proactive measures to ensure the safety of its employees. The company and its supplier network are working together to address the tough challenges facing production and resume operations. Huawei’s business is continuing as usual and its overall business results in Q1 2020 are in line with expectations.
Networks are a lifeline for people from all walks of life during this public health crisis, so ensuring normal network operations is of paramount importance. Huawei is doing everything in its capabilities to help carriers ensure stable and secure network operations. Together, we are working to meet the network demand created by social distancing as people switch to telecommuting, distance education, and e-commerce for daily necessities.
Since the outbreak, Huawei and its partners have rapidly launched many 5G- and AI-powered medical applications. We are using our expertise in communications technologies to help fight the pandemic and save more lives. 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 addition, Huawei has been doing its best to get masks, test kits, and other protective supplies to the countries and organizations that need them.
In the 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.
On April 16, Thailand Prime Minister Prayut Chan-o-cha visited Siriraj Hospital in Bangkok to observe and follow up on the utilization of Huawei’s AI-Assisted solution provided by Thailand Digital Economy and Society Ministry and Huawei. The Thailand government plans to implement this solution in more hospitals across the country, in order to enhance the performance of medical service and better protect the medical staff.
The AI-assisted technology, supported by 5G network, helped improve the efficiency and effectiveness of diagnosis by automatic analysis of 20,000 CT scan results and comparing with existing database samples, could readily detect 4,000 confirmed cases. In addition, its remote teleconsultation facility helped reduce infection risk for medical staff and lessen the burden on system by expanding the disease control ability to different areas in the country.
“It is our hope that the pandemic ends as soon as possible. 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. 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.
A seed that survives the storm will sprout and then blossom. Even though it is impossible to know when the tides of this pandemic will turn, we at Huawei believe that this challenge will be overcome by standing together.
Note: exchange rate at the end of March 2020: US$1 = CNY7.0915 (source: external agencies)