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Huawei reports that it made US$123 billion in 2019

Huawei has released its earnings report for 2019. (Source: Huawei)
Huawei has released its earnings report for 2019. (Source: Huawei)
Huawei has released its financial performance report for 2019, which outlines its takings worldwide from all its business, consumer electronics included. They show that overall revenues have increased year-on-year (YoY). However, the growth of its profits did not match those of previous years.

It would be an understatement to say Huawei had a strange time of it in 2019. It acquired a de facto black-listed status with normal US partners and suppliers due to its placement on this country's governmental Entities List. This development may have cost the company as much as US$12 billion last year; however, its latest financial report made no mention of this.

It does state that Huawei still managed to make 858.8 billion yuan (or $122.9 billion) in terms of total revenue in 2019. This is a 19.1% YoY increase, holding steady against the corresponding figure from 2018 (19.5%). However, the company also reported net profits of 62.7 billion yuan ($8.9 billion).

This is an improvement of 5.7% compared to those of 2018; however, Huawei did report a YoY increase in profits of approximately 25% for that year, and 28% for the year before. On the other hand, the company's revenues from its consumer division were 467.3 billion yuan (~$66 billion), or 34% more YoY.

The OEM shipped approximately 240 million units of Huawei- or Honor-brand mobile devices, or 16% more compared to 2018. In addition, its PC shipments grew by over 200% YoY. The report even claimed that the company's tablet division saw growth despite the uncertain health of this market.

Finally, this document notes that the in-house Huawei Mobile Services (HMS) are going from strength to strength, with approximately 400 million active users per month in 2019.

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Deirdre O Donnell, 2020-04- 1 (Update: 2020-04- 2)