Huawei’s revenue doubled in 2023 as smartphone, autos enterprise picked up

Huawei’s revenue doubled in 2023 as smartphone, autos enterprise picked up

Huawei introduced one of many largest shows to Cell World Congress in Barcelona in February 2024.

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BEIJING — Chinese language telecommunications firm Huawei mentioned Friday its internet revenue for 2023 greater than doubled thanks to raised product choices.

The corporate additionally attributed the revenue positive factors to income progress of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Internet revenue grew by 114.5% year-on-year to 87 billion yuan.

Greater high quality operations and gross sales of some companies contributed to profitability as nicely, in line with Huawei.

The telecommunications firm made a comeback within the smartphone market in 2023 with the quiet launch of its Mate 60 Professional in China in late August. Opinions indicated the system gives obtain speeds related to 5G — because of a complicated semiconductor chip. That is regardless of U.S. restrictions since 2019 on Huawei’s capacity to entry high-end tech from American suppliers.

The Mate 60 Professional helped enhance Huawei’s gross sales in China. Within the fourth quarter, Huawei smartphone shipments within the nation surged by 47% from a yr in the past, placing the corporate in fourth place by market share, forward of Xiaomi, in line with Canalys. Apple maintained first place with 6% year-on-year progress in shipments, the information confirmed.

Huawei’s income grew by 0.9% to 642.3 billion yuan in 2022, as the corporate stabilized its enterprise in a troublesome yr following a plunge of greater than 28% in gross sales in 2021. Internet revenue in 2022 fell by 69%, the most important drop on report. The corporate on the time cited rising commodity costs, China’s pandemic controls and rising analysis and growth spend.

Huawei on Friday additionally mentioned its clever car options enterprise noticed income develop by 128.1% from a yr in the past to 4.7 billion yuan.

The corporate sells software program and different expertise to automobile corporations. It has additionally partnered with an automaker for the Aito electrical automobile model.

Huawei mentioned its client enterprise noticed income develop by 17.3% year-on-year to 251.5 billion yuan in 2023.

ICT remained by far Huawei’s largest income driver with 362 billion yuan in income in 2034, up 2.3% from a yr in the past.

Cloud income grew by almost 22% to 55.3 billion yuan.

— CNBC’s Arjun Kharpal contributed to this report.

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