Huawei continues to prosper despite the challenges it is facing in the market, including the US sanctions. According to the company’s report, it experienced 87 billion yuan ($12 billion) growth in its net profit in 2023. With this, the company expressed its determination to continuously move forward despite the obstacles it is facing.
This is a huge success for the Chinese brand as its business is still being challenged by the US sanctions that prevent it from accessing computer chips and US software services. Despite this, Huawei had success in introducing its Mate 60 in China, and it even outperformed brands like Apple in the process.
Now, the company reported a bigger victory in its entire business, saying its revenue is almost 10% higher than the earlier year. This ultimately allowed the giant to accumulate 704.2 billion yuan ($97.4 billion) of revenue.
“We’ve been through a lot over the past few years. But through one challenge after another, we’ve managed to grow,” Mr. Ken Hu, Rotating Chairman of Huawei, enthused over the success during an interview with AP. “In 2024, we will further expand our presence in the high-end market by working with ecosystem partners worldwide to bring more innovative products and services to consumers across the globe.
Different sections of the company’s business experienced growth, but one of the notable segments worth underscoring is its consumer unit. The department, which covers Huawei’s smartphones and devices, reportedly had a 17.3% increase in revenue in 2023. Some of the latest additions to its smartphone offerings include the Huawei Nova 12i, 12s, and 12 SE. According to recent reports, the brand is also expected to challenge Samsung’s dominance in the foldable market.
