Huawei posts record profits despite turbulent 2020

The company’s enterprise business managed to achieve 23% year-on-year growth

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Huawei said it achieved a record profit in 2020 despite being blacklisted in the US and barred from the UK’s 5G infrastructure.

This success can be partly attributed to Huawei’s enterprise segment, which despite providing relatively small revenue in comparison to the tech giant’s two other business groups, managed to achieve a 23% year-on-year growth with full-year revenues of £11 billion.

By comparison, Huawei’s consumer business segment grew by only 3.3%, while its carrier segment experienced minuscule growth of 0.2%.

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Nevertheless, the company didn’t manage to completely brush off the difficulties of the past 12 months. Huawei’s total year-on-year growth was half of what it had generated for the year prior, plunging from 5.6% for 2019 to 3.2% for 2020, at £7.19 billion.

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