Huawei is optimizing portfolio to boost business resilience

April 14, 2021 TheDrone

By Jeremiah Kaniampiha

Eric Xu, Huawei's Rotating Chairman said Huawei is optimizing its portfolio to boost
business resilience to cope with the uncertainty brought by geopolitical tension, the
resurgence of COVID-19, and US bans.

Eric Xu made the statement when delivered a keynote speech at the company’s 18th
Global Analyst Summit. More than 400 people, including industry and financial analysts, key opinion leaders, and media representatives joined the 3-day event runs April 12 to 14 with the theme "Building a Fully Connected, Intelligent.

“Business resilience is our guiding principle. We want to boost the resilience of our
entire business, and since last year we have been working to optimize our portfolio
with this goal in mind,” said Eric Xu.

Huawei’s 2020 Annual Report shows the company's sales revenue in 2020 rounded off at CNY891.4 billion, up 3.8% year-on-year, and its net profit reached CNY64.6billion, up 3.2% year-on-year. Eric Xu said one of the priorities is to further strengthen Huawei’s software engineering capabilities

Eric Xu, Huawei’s Rotating Chairman said Huawei is optimizing its portfolio to boost business resilience to cope with the uncertainty brought by geopolitical tension, the resurgence of COVID-19, and US bans. Eric Xu made the statement when delivered a keynote speech at the company’s 18th Global Analyst Summit. More than 400 people, including industry and financial analysts, key opinion leaders, and media representatives joined the 3-day event runs April 12 to 14 with the theme “Building a Fully Connected, Intelligent World”.

“We are on the lookout for new business opportunities in the software sector. When we find the right fit, we will step up investment to increase the percentage of software and services in our revenue mix,” said Eric Xu.

In late November 2018, Huawei decided to invest 2 billion US dollars into upgrading
our software engineering capabilities. Eric Xu said the company is “pleased with the
results thus far”.

Autonomous driving software is one of the main focuses of the company software
investment plan. According to Eric Xu, autonomous driving software is at the center
of entirely unmanned driving.

“With intense investment in autonomous driving software, our hope is to drive these trends forward as they facilitate the integration of the automotive and ICT industries, which in turn creates long-term strategic opportunities for Huawei. Once unmanned driving becomes a reality, we will see disruption in practically all adjacent sectors and
trigger the most disruptive industry transformation the world will see in the next 10 years,” said the Rotating Chairman.