Tech giants Huawei has released its business results for the first half of 2021, with an overall performance showing almost US$50 billion in revenue, in line with forecast.

In H1, Huawei generated ¥320.4 billion (US$49.39 billion) in revenue, with its net profit margin reaching 9.8 per cent – up from 9.2 per cent a year ago.

Of that sum, its carrier business generated ¥36.9 billion (US$21.10 billion), while its enterprise business brought in ¥42.9 billion (USD6.61 billion) and consumer business revenue accounted for ¥135.7 billion (US$20.92 billion).

The company’s revenue marked a significant 29.5 per cent drop from the ¥454 billion (US$70 billion) in revenue yield for H1 2020, and has been blamed in part on United States sanctions but shrugged off as a bump in the road.

“We’ve set our strategic goals for the next five years,” said Eric Xu, Huawei’s rotating chairman.

“Our aim is to survive, and to do so sustainably. We’ll do this by creating practical value for our customers and partners. 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.”

Those “external factors” are an apparent reference to the US sanctions which have made it difficult for Huawei to source the components it needs to make to tier products, in particular mobile devices

Said Xu: “These have been challenging times, and all of our employees have been pushing forward with extraordinary determination and strength. I want to thank every single member of the Huawei team for their incredible effort. Going forward, we continue to believe deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. We will keep on innovating to help build a low-carbon, intelligent world.”