Huawei subsidiary Aspiegel sees revenue rise in 2020

Revenues at Huawei subsidiary Aspiegel rose to €211 million in 2020, from €90 million a year earlier, new accounts filed by the company show.

The Dublin-based subsidiary controls of most of the Chinese company’s mobile software services and began trading in 2018.

Of that €211 million, more than €29 million came from the Irish market, up from €23 million in 2019. Some €22 million was accounted for by the rest of the European market, a marginal increase from the €21 million in the prior year. The remaining €159 million came from the rest of the world, the accounts showed, a significant rise on the €45.6 million recorded in 2019.

The rise in total revenue was accompanied by an increase in the cost of sales, with profit for the year reaching €2.9 million, compared with €1.3 million in the prior year. Pretax profit was €3.4 million, more than double the €1.5 million it recorded in 2019.

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The company employed 69 people at the end of last year, with staff costs amounting to almost €10.3 million.

Huawei transferred many of its mobile software services to Aspiegel in 2019. Huawei mobile services, known as Huawei ID in some markets, allow users to access the company’s specially-designed smartphone apps and to store personal information, including payment details, in the cloud.

The services were transferred to the Dublin-headquartered subsidiary from the group's Shenzhen headquarters at the end of April 2019, with the unit given responsibility for the business operations and development for all the group's mobile service outside of mainland China, and with a particular focus on Europe.