Huawei Reports Q1 Revenue of 182.1 Billion Yuan, Up 1.4% Year-on-Year

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] Amid the global impact of the novel coronavirus disease (COVID-19), China's Huawei reported only a 1% increase in sales revenue for the first quarter.

According to China's Xinhua News Agency on the 21st, Huawei's first-quarter sales revenue was recorded at 182.1 billion yuan (approximately 31.5 trillion won), a 1.4% increase compared to the same period last year.

The operating profit margin for the same period was 7.3%. The company stated, "The first-quarter performance is at a level that meets expectations."

Huawei plans to focus on the development of 5th generation mobile communications (5G) going forward. Huawei said, "As China accelerates new infrastructure construction and embarks on large-scale 5G commercialization this year, we plan additional development."

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