Huawei said results for the first quarter were in line with expectations, despite the effects of the coronavirus pandemic. The company said its business is continuing as usual and provided some figures. Revenues for the quarter rose 1.4 percent from the year before to CNY 182.2 billion, while the net profit margin was 7.3 percent.
This represents a significant slowdown from the 19 percent sales growth for 2019. The company said earlier that 2020 would be a tough year, its first full year with US sanctions. Along with the effects of the coronavirus outbreak, 2020 "will be the most difficult year" for Huawei, rotating chairman Eric Xu said.
