Monday, January 3, 2022

Huawei posts 2021 revenue of US$99 billion, down 29%

In a New Year message, Guo Ping, Rotating Chairman of Huawei, said the company achieved 2021 total revenue of 634 billion yuan.

The figure represents a drop of approximately of 29% compared to 2020.

In his letter, Huawei's chairman said the the road ahead is long and hard, but that the company continues to pursue opportunities in the digital economy, which has become a major engine of global economic growth.

Huawei's revenue continues to decline but company remains profitable

 Huawei reported revenue of CNY455.8 billion (approximately US$71.32 billion) for the first three quarters of 2021. The reported net profit margin was 10.2%. No further details were released.

The reported revenue represents a drop of approximately 38% compared with the first nine months of 2020.

"Overall performance was in line with forecast," said Guo Ping, Huawei's Rotating Chairman. "While our B2C business has been significantly impacted, our B2B businesses remain stable. Through our ongoing commitment to innovation, R&D, and talent acquisition, and rigorous attention to operating efficiency, we are confident we will continue to create practical value for our customers and the communities in which we work."

Huawei's first half 2021 revenue drops 29% yoy - shift to enterprise

Huawei released the following business results for the first half of 2021:

In H1, Huawei generated CNY320.4 billion (approximately US$49.4 billion) in revenue, down 29.4% yoy, with its net profit margin reaching 9.8%.

  • Carrier business revenue: CNY136.9 billion, down 14.2% yoy 
  • Enterprise business revenue: CNY42.9 billion, up 36.3% yoy
  • Consumer business revenue: CNY135.7 billion, down 46.9% yoy

"We've set our strategic goals for the next five years," said Eric Xu, Huawei's Rotating Chairman. "Our aim is to survive, and to do so sustainably. We'll do this by creating practical value for our customers and partners. Despite a decline in revenue from our consumer business caused by external factors, we are confident that our carrier and enterprise businesses will continue to grow steadily."

Xu continued, "These have been challenging times, and all of our employees have been pushing forward with extraordinary determination and strength. I want to thank every single member of the Huawei team for their incredible effort. Going forward, we continue to believe deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. We will keep on innovating to help build a low-carbon, intelligent world."