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

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

The corporate additionally attributed the revenue features 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 properly, in accordance 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. Evaluations indicated the system provides obtain speeds related to 5G — due to a complicated semiconductor chip. That is regardless of U.S. restrictions since 2019 on Huawei’s skill 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 in the country surged by 47% from a yr in the past, placing the corporate in fourth place by market share, forward of Xiaomi, in accordance with Canalys. Apple maintained first place with 6% year-on-year progress in shipments, the information confirmed.

Huawei’s revenue 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 biggest drop on file. The corporate on the time cited rising commodity costs, China’s pandemic controls and rising analysis and improvement spend.

Huawei on Friday additionally stated 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 automotive firms. It has additionally partnered with an automaker for the Aito electrical automotive model.

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

ICT remained by far Huawei’s greatest income driver with 362 billion yuan in income in 2023, up 2.3% from a yr in the past.

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

— CNBC’s Arjun Kharpal contributed to this report.