Despite sanctions: Huawei earns significantly more again

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“We’ve been through a lot in the last few years. But we’ve managed to grow through one challenge after another,” president Ken Hu said in Shenzhen on Friday, according to the statement.

As the company announced, southern Chinese received a total of about 704.2 billion renminbi (about 88 billion francs); This means an increase of 9.63 percent compared to the previous year. Net profit increased by over 140 percent to 87 billion renminbi. Hu said the company’s performance met expectations.

In Europe, consumers know Huawei from its smartphones. Private client business grew by 17.3 percent to 32.3 billion euros.

In late summer 2023, the Chinese smartphone Mate 60 made headlines for having a chip that China had previously been unable to use due to current US technology sanctions. The device was clearly competing with Apple’s iPhone in China. In the first six weeks of this year, iPhone sales fell 24 percent compared to the same period last year, while Huawei’s sales rose 64 percent, analyst firm Counterpoint Research reported in early March.

Huawei is also working on electric cars in China and providing the software. The automotive sector generated revenues equivalent to almost €604 million in 2023, but was the fastest growing sector at 128.1 percent, although the benchmark base was lower. Its cloud business, which includes artificial intelligence, also generated sales of around 22 percent more, equivalent to seven billion euros.

In the information and communications technologies business, where traditionally the highest sales have been achieved, Huawei generated revenues equivalent to 46.5 billion euros. This includes the field of 5G mobile communications standard.

(SDA)

Source :Blick