Huawei declares $71bn revenue, 10.2% net profit margin in Q1, Q2, Q3

Huawei has released its business results for the first three quarters of 2021. According to the tech giant, it generated CNY455.8 billion (approx. $71bn) in revenue, and its net profit margin was 10.2% during the period.

“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.”

“We would like to thank our customers and partners for their ongoing trust and support,” continued Guo. “With their collaboration, and the excellent work and dedication of our Huawei team across the globe, we will together use digital technology to drive a greener, intelligent world.”

In his keynote speech at the Huawei Global Analyst Summit last April, Huawei Rotating Chairman Eric Xu said: “We have spent a long time reviewing and adjusting our business portfolios and are confident in our ability to survive and do so sustainably. There is currently a lot of growth momentum in the Chinese economy, and overseas markets are gradually recovering from COVID-19. We believe deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. So we will keep innovating and driving digital transformation forward with our customers and partners to speed up the arrival of a fully connected, intelligent world.”

Speaking on Huawei’s new Digital Power business line, Xu added at the Huawei Connect event in September 2021, “Using technology innovation to help different sectors reduce carbon emissions is not a new strategy. It’s something we have been working on for years. ICT is expected to help other industries cut carbon emissions by 12.1 billion tons by 2030. That is roughly 10 times the amount emitted by the ICT industry itself. Huawei’s share in global ICT infrastructure currently stands at more than 30% as a major supplier of ICT infrastructure. We have always believed that the biggest value that Huawei can bring to advance the green agenda is to use continuous technology innovation to help all industries reduce their energy consumption and achieve low-carbon development. This is a strategy we were committed to in the past and a strategy we will stay true to in the future.”

“Within this context, we are stepping up efforts in one particular area, which is digital power. We want to bring together digital technology and power electronics, and ‘use bits to manage watts’ as we say at Huawei. We believe this will allow us to contribute more to power savings in data centers, ICT infrastructure, among others,” Xu noted.

On talent development, Xu added: “If Huawei is to survive, we must tackle many technical issues and achieve many things. To do this, we will need top talent. They have a major role to play as we overcome these challenges. Therefore, we are embracing top talent from around the world, with open arms, so that they can help us tackle these technical hard nuts one after another. This way, we will survive. Our approach is to keep bringing talented people on board from around the world. If we stick to this approach, it’s likely that we will be able to survive.”