Amid global challenges in its 5G network and smartphone businesses, Chinese telecommunication giant Huawei still managed to generate revenues of USD 136.7 billion in 2020, with a net profit hitting USD 9.9 billion, 10.9% higher year-on-year, news outlet Yicai reported, citing internal sources.
According to an official statement, Huawei earned USD 103.7 billion in the first three quarters of 2020, a 9.9% increase year-on-year.
Also on Sunday, the company announced internally that it will dish out an annual stock dividend to its employees, at an estimated RMB 1.85 (USD 0.29) per share, said a report by Jiemian. According to its 2019 financial report, Huawei is a private company that is 100% owned by some 100,000 employees.
In 2020, Huawei dominated 41% of China’s smartphone market, said research company Counterpoint’s latest publication, remaining the biggest manufacturer in the country, even though total shipments slipped 3% from 2019. It still includes Honor, the brand it sold in the latter half of last year when it was facing US sanctions.
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This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.
