Huawei’s revenue rises after two years

According to the balance of the first half of 2023 announced by Huawei, in the first 6 months, the company’s revenue increased 3.1% year-on-year to 310.9 billion yuan (42.98 billion dollars), while its profitability increased by 15%.

After the US imposed an export ban on its companies on Huawei for “national security” reasons in 2019, and many countries under US leadership barred the company from establishing 5G telecom infrastructure, the Huawei’s revenue increased to 29.4 percent in 2021, and in 2022 decreased by 5.9 percent.

LAST YEAR HE MADE A PROFIT OF 5 PERCENT

The company has maintained its net profitability over the past two years, despite declining revenue, posting an annual profit of 9.8% in 2021 and 5% in 2022.

The recovery in smartphone sales, which was hit by US export bans due to the company’s smart operating system and chips, was effective in increasing total revenue.

According to data from the international market research company IDC, in the second quarter, smartphone sales declined 7.8 percent worldwide and 1.2 percent in China, while Huawei’s sales rose to about 76 percent.

In addition to the sales success of Huawei’s top-tier P60 phones and Mate X3 foldable smartphones, the widespread use of the HarmonyOS operating system developed by the company after the ban on the use of the Android operating system was effective in increasing.

HUAWEI ENTERS THE TOP 5

In this way, Huawei once again entered the top 5 smartphone manufacturers in China. The company had become the world’s largest smartphone maker, briefly surpassing South Korean company Samsung before the US export bans.

Revenue from the consumer technology unit, which includes smartphone manufacturing, rose 2.2 percent to 103.5 billion yuan (14.31 billion U.S. dollars), about a third of the company’s total revenue.

The information and communication technology unit, which includes telecommunications infrastructure, was the business line that generated the most revenue for the company in the first half with 167.2 billion yuan (23.11 billion dollars), while the cloud computing was 24.1 billion yuan (3.33 billion U.S. dollars), digital business solutions unit generated revenue of 24.2 billion yuan (3.35 billion U.S. dollars), and smart automotive solutions unit generated revenue of 1 billion yuan (140 million dollars). (AA)