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| Huawei sales growth slowed sharply in the first quarter |
Huawei today announced results for the first quarter of 2020 as sales growth slowed significantly in the first three months of 2020. However, this said that the world's largest provider of printing telecom equipment in the United States and Corona virus is emerging, and under its influence, Its performance is very flexible.
Chinese tech giant revenue in the first quarter was 182.2 billion RMB (about 25.8 billion US dollars), up 1.4% from 179.7 billion RMB in the same period last year. In contrast, Huawei announced a 39% increase in sales in the first quarter of 2019.
The company also announced a net profit margin of 7.3%, less than 8% in the first quarter of 2019. The company is also the third largest smartphone manufacturer in the world, but it has not announced a net profit.
"The rate of growth has slowed down, but this performance is flexible given the US companies and the emerging corona virus we face today," Vice President Victor Zhang said in a statement on Tuesday.
Washington listed the Chinese company on the blacklist for national security reasons in May last year, as the list restricted sales of US-made products to the United States, leading to the highest growth in the United States in three years in 2019, slow growth.
On the impact of the epidemic, Zhang said the company's vice president announced financial performance in London instead of Shenzhen to celebrate the 20th anniversary of work in Europe, which is the short or long-term impact. This is hard to estimate in the long run.
In the first quarter of 2020, Huawei did not announce any personal sales of devices such as telecom devices and smartphones. Zhang also ignored criticism of the so-called "mask diplomacy." He said: With the infection rate rising, millions of masks with no ulterior motives have been donated to European countries. There is a Corona virus.
"We support some countries that lack personal protective equipment due to corporate social responsibility," said Zhang Weida. Huawei said 2020 has been the most difficult year yet as the United States shows no signs of easing trade restrictions and is urging allies to exclude them. China Fifth Generation Network Company (5G).
The source said that Washington will take further steps to limit the supply of chips to Huawei. The new restrictions have no economic significance, Zhang said, adding that Huawei hopes to work with all companies, partners and suppliers, including American companies.