Huawei’s net profit doubled in 2023 – Kommersant
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Chinese technology corporation Huawei submitted reports for 2023. Its revenue during this period grew by 9.6%, to 704.2 billion yuan ($99.5 billion). Net profit for the year more than doubled (by 144%), amounting to 87 billion yuan ($12 billion).
Huawei returns to strong growth after several years reductions indicators due to US sanctions in force against the company, prohibiting the supply of American technologies to Huawei, as well as lockdowns in China in 2022. Last year’s growth was primarily due to strong sales of consumer technology, as well as strong performance in the cloud division. Revenue from the consumer electronics division grew by 17% in 2023, and by 22% from the cloud division.
In September, Huawei introduced the flagship smartphone Mate 60 Pro. Following this, the company’s smartphone sales grew 47% in the fourth quarter. Experts note that in recent years the company has significantly diversified its activities and increased share of Chinese components in their smartphones.
Read about how Russian businesses are intensifying hiring for servicing Huawei equipment in the Kommersant publication. “Supernumerary Situation”.
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