Huawei net profit rises by 3.8 per cent

Business Desk | Published: 22:36, Apr 29,2021

 
 

Huawei’s announced on Wednesday that its net profit margin increased by 3.8 percentage points year-on-year in the first quarter of 2021.

A press statement issued by the company said that this was a result of its ongoing efforts to improve the quality of operations and management efficiency, as well as a patent royalty income of$600 million (approximately equal to Tk 5,087 crore).

‘2021 will be another challenging year for us, but it’s also the year that our future development strategy will begin to take shape,’ said Huawei rotating chairman Eric Xu.

‘We thank our customers and partners for their ongoing trust. No matter what challenges come our way, we will continue to maintain our business resilience. Not just to survive but do so sustainably. As always, we will remain focused on the needs of our customers and keep delivering practical business value.’

Huawei is driving efforts to fully unleash the value of 5G and helping carriers around the world to roll out their 5G networks, meeting the demands of consumers and industries alike while boosting its own delivery efficiency, said the statement.

‘As always, we remain committed to technological innovation and investing heavily in R&D as we work to address supply continuity challenges caused by restrictions in the market,’ stressed Xu.

The financial data disclosed are unaudited figures compiled in compliance with the International Financial Reporting Standards, added the statement.

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