Huawei’s revenue goes up by 9.9% in Q3 of 2020 to over $98.58 billion

KATHMANDU – Huawei has announced its business results for the first three quarters of 2020. Issuing a statement, the global provider of information and communications technology (ICT) infrastructure and smart devices said that it generated CNY671.3 billion (approximately $98.58 billion) in revenue, an increase of 9.9% over the same period last year.

The company’s net profit margin in this period was 8 percent, according to the statement. “Throughout the first three quarters of 2020, Huawei’s business results basically met expectations,” read the statement.

“As the world grapples with COVID-19, Huawei’s global supply chain is being put under intense pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfill its obligations to customers and suppliers,” it added.

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