Huawei’s revenue grew by 3.1% in the first half of the year – Kommersant
[ad_1]
Today, August 11, the Chinese technology corporation Huawei Technologies reported for the first half of the year. Its revenue for this period grew by 3.1%, to 310.9 billion yuan ($43 billion). The report does not contain profit data – Huawei publishes them only in annual reports. At the same time, the company reported that the profit margin in the first half of the year was 15% – against 5% for the same period in 2022.
In addition, Huawei reported that its consumer technology business grew 2.2% in revenue to 103.5 billion yuan ($14.3 billion). This indicator is especially interesting, since it is this unit that has been particularly hard hit by the US sanctions in force since 2019. Among other things, the sanctions prohibit American and foreign companies from supplying American technology to Huawei. At the same time, the division’s revenue is still less than half of its revenue for the same periods in 2019 and 2020. The company said it expects continued uncertainty in the global market in this area during the remaining months of 2023.
[ad_2]
Source link
