In 2023, Huawei made a strong comeback in the smartphone market with the release of its Mate 60 Pro in China in late August. Despite U.S. restrictions on accessing high-end tech from American suppliers, the Mate 60 Pro was well-received for its download speeds associated with 5G, which helped boost Huawei’s sales in China and increase market share.
The company’s net profit more than doubled to 87 billion yuan ($12.8 billion) in 2023, thanks to better product offerings and a 9.6% year-on-year revenue growth to 704.2 billion yuan ($101.7 billion). Net profit saw a significant increase of 114.5% year-on-year compared to the previous year, when net profit dropped by 69%, the largest decrease on record due to rising commodity prices and other factors.
Huawei’s intelligent automobile solutions business also experienced significant growth, with revenue increasing by 128.1% in 2023, while its consumer business saw growth of nearly 17.3%. The ICT segment remained Huawei’s largest revenue driver, bringing in nearly $40 billion or $55.3 billion yuan in revenue, up from $35 billion or $51 billion yuan in the previous year, representing growth of nearly 22%. Cloud revenue also saw significant growth of nearly $14 billion or $96 million yuan compared to the previous year’s $13 billion or $90 million yuan, representing growth of over 7%.
Overall, Huawei’s performance in
Despite the fact that depression affects both men and women, there are some notable differences…
Japan’s economy experienced a more significant contraction than expected in the last quarter, with consumer…
Ubisoft and Ubisoft Quebec have announced the launch of Assassin's Creed Shadows, which is set…
Quantum sensors are revolutionizing the field of medicine as they have the ability to detect…
In 2023, after being politically isolated for twelve years, far-right leader Geert Wilders has secured…
In Madrid, the Southwest Research Institute (SwRI) is currently investigating an unusual event in Earth's…