Huawei reported revenues for the first half of 2021 at CNY 320.4 billion, down sharply from CNY 454 billion reported for the same period in 2020. The consumer business showed the biggest fall, with revenues down 47 percent year-on-year to CNY 135.7 billion, and the carrier networks business also suffered a drop in sales, to CNY 136.9 billion compared to CNY 159.6 billion a year ago.
Only the enterprise business posted higher revenues, at CNY 42.9 billion versus CNY 36.3 billion a year earlier. The results were impacted also by the sale of the Honor brand activities in late 2020.
Huawei said its group net profit margin reached 9.8 percent, up from 9.2 percent reported last year. Further details of the results were not disclosed.
In a short statement, Huawei's rotating chairman Eric Xu said the company's "aim is to survive, and to do so sustainably". It has set five-year goals to carry it forward, as it weathers the US sanctions against the group, which have restricted its access to key components and software as well as seen multiple countries adopt security restrictions against Huawei products. "Despite a decline in revenue from our consumer business caused by external factors, we are confident that our carrier and enterprise businesses will continue to grow steadily," Xu said.
