The Shenzhen-based firm reported a web revenue of 87 billion yuan ($12 billion), helped by sturdy gross sales and an improved product portfolio. Income jumped almost 10% from a yr earlier, to 704.2 billion yuan ($97.4 billion).
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Huawei’s rotating chairman Ken Hu mentioned the corporate’s figures had been in step with forecasts.
“We have been by way of loads over the previous few years. However by way of one problem after one other, we have managed to develop,” Hu mentioned.
Huawei additionally mentioned it profited from “positive aspects from the gross sales of some companies.” It didn’t specify which companies had been bought.
Huawei, certainly one of China’s first world tech manufacturers, has been caught up in China-U.S. tensions over expertise and safety.
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The U.S. has banned U.S. corporations from doing enterprise with Huawei, reducing off its entry to laptop chips and software program equivalent to Google companies for its smartphones and stopping it from promoting its telecommunications gear to U.S. clients. Washington says Huawei poses a menace to U.S. nationwide safety. Huawei denies that.
Huawei has refocused its enterprise on cloud computing companies and serving to industries to shift to extra digital operations.
Revenues from its cloud computing enterprise grew virtually 22% year-on-year in 2023 to 55.3 billion yuan ($7.7 billion). Gross sales for its digital energy enterprise grew 3.5%. Its automotive companies associated gross sales greater than doubled.
Huawei’s shopper unit, which sells smartphones and different units, posted a 17.3% bounce in income in 2023.
Final yr, Huawei launched its high-end Mate 60 smartphone line, powered by a complicated chip that it made along with China’s Semiconductor Manufacturing Worldwide Company (SMIC).
“In 2024, we’ll additional increase our presence within the high-end market by working with ecosystem companions worldwide to deliver extra modern services to shoppers throughout the globe,” the corporate mentioned in an announcement to the AP.
The launch of the Mate 60 prompted hypothesis that Huawei and China could possibly produce 5G chips.
U.S. lawmakers later accused SMIC of violating U.S. sanctions by supplying chips to Huawei. Taiwan additionally launched an investigation into 4 native corporations over experiences that they helped Huawei in its chip efforts. Among the corporations mentioned they had been providing wastewater and environmental safety companies unrelated to important expertise.
Huawei is among the world’s greatest spenders in analysis and growth. In 2023, it invested 164.7 billion yuan ($22.8 billion) into R&D, accounting for nearly 1 / 4 of its annual income. Simply over half of Huawei’s 207,000 workers work in R&D.
