Huawei Posts Weakest Growth in Three Years in FY19

Huawei Posts Weakest Growth in Three Years in FY19

Eric Xu, Huawei Rotating Chairman

  • Net profit $8.9 billion

Huawei Technologies on Tuesday posted a net profit of $8.8 billion for the year 2019.

Its overall 2019 revenue jumped 19.1% to  $121 billion. Cash flow from operating activities increased to USD 13 billion from USD 10.8 billion in 2018.

Huawei’s consumer business continued to see growth in 2019 with a total of 240 million smartphones shipped throughout the year. 

The company reported progress in developing the Seamless AI Life ecosystem across all scenarios and devices, including personal computers, tablets, wearables, and smart screens. 

In 2019, sales revenue from Huawei’s consumer business unit was USD 65 billion.

“2019 was an extraordinary year for Huawei,” said Eric Xu, Huawei’s Rotating Chairman. 

“Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers. We worked hard to earn their respect and trust, as well as that of our partners around the globe. The business remains solid.”

The Chinese company’s future outlook has been termed ‘challenging’ by Liang Hua, the board chairman.

“The external environment will only get more complicated going forward,” Xu cautioned. “We need to keep enhancing the competitiveness of our products and services, promoting open innovation, and creating greater value for our customers and society at large. This is the only way we can seize the historic opportunities presented by the digital and intelligent transformation of industries, and maintain robust growth in the long run.”