Business Today

Huawei’s profits rose 6 percent to Chinese IT companies

Chinese IT company Huawei has made a profit of Rs 1.54 trillion in 2021, which is about 6 percent more than the previous year. As a result, Huawei’s profits have not diminished despite various restrictions imposed by Corona and the United States.

Huawei released its annual report for 2021 on Monday. On this occasion, Huawei Technologies (Bangladesh) Limited organized a press conference at a hotel in Dhaka. Huawei’s annual report release program was broadcast live in China. Besides, their business and future goals in Bangladesh were highlighted.

According to Huawei’s annual report, the company’s revenue in 2021 is about 10 trillion US dollars, which is equivalent to 6 lakh 75 thousand crore in Bangladeshi currency. In the same year, the company spent about Tk 2 lakh crore on research and product development, which is 22.4% of the company’s total revenue. Huawei also said that in more than 10 years, they have spent more than Rs 11.5 trillion on research and product development.
Meng Wenzhou, chief financial officer (CFO) of Huawei, said at the release of the annual report that their revenue would decline in 2021. However, the ability to make a profit and the flow of cash has increased. Huawei’s ability to deal with any situation has increased.

Huawei is one of the world’s leading IT service providers. Huawei is ranked 44th in the US magazine Fortune’s list of the world’s top 500 companies. It does business in more than 160 countries and regions around the world. Huawei provides technology services to mobile operators. It also manufactures various IT products including mobile phones and laptops. The company has been doing business in Bangladesh since 1998. The experimental FiveG service launched by the country’s mobile operator Teletalk is based on Huawei’s technology.
Speaking at the event in Dhaka, Pan Junfang, CEO of Huawei Technologies (Bangladesh) Limited, said, “Huawei has been working in Bangladesh for 23 years. During this time Bangladesh has made great strides in the field of information and communication technology. We are happy to be an active partner in this transition. “

According to the report, Huawei’s ‘Cloud Service’ is ranked fifth in the world and third in China. Besides, Huawei is working in the digital power sector. Huawei’s Smart Photovoltaic Solution has been used at Mymensingh Solar Plant in Bangladesh. This year, Huawei wants to become more of a partner in these sectors in Bangladesh.