Huawei, the Chinese tech company, reported a significant increase in profits in 2023, with net profit surging 144.5% to 87 billion yuan and revenue growing 9.6% to 704.2 billion yuan. Despite US sanctions, Huawei's sales revenue reached nearly $98 billion, up by 9.63% year-on-year. The company's financial performance was described as the best since 2019, driven by better product offerings and growth in cloud and digital businesses.
"Chinese telecoms firm Huawei grew faster in 2023 than it has for 4 years, as it shrugged off the impact of US sanctions. Revenues rose by nearly 10% to 704.2bn yuan (£77bn) as the Shenzhen-based company enjoyed a rebound within its consumer segment…" https://t.co/wzfogMrlwD
Huawei's 2023 global sales revenue hits nearly 98 billion dollars, up by 9.63% y-o-y https://t.co/zVrgYUiWNl
Despite US #sanctions, #Huawei in 2023 managed to record a surge in profit while also widening its ecosystem and achieving technological breakthroughs. https://t.co/dKkQqsSBYH
Huawei’s 2023 global sales revenue hits nearly 98 billion dollars, up by 9.63% y-o-y https://t.co/4qjtonh8M4
#Huawei's net profit more than doubled in 2023, surging 144.5% in 2023 to 87 bn yuan. Revenue grew 9.6%, marking fastest pace since 2019. https://t.co/haGgRmRP6L
#Huawei's net profit more than doubled in 2023 driven by better product offerings. Net profit surged 144.5% in 2023 to 87 bn yuan and revenue grew 9.6% to 704.2 bn yuan. https://t.co/haGgRmRP6L
SCHOLARLY LITERATURE = SANCTIONS RARELY WORK. Exhibit A: Five years after the US enforced sanctions on Chinese tech giant Huawei, its profits have SOARED. Huawei reported a 140% YoY profit increase. https://t.co/lOlyTVrWTL
Huawei defies the odds and shows impressive financial performance in 2023: the best since 2019 https://t.co/cbWS7sOUEs #HuaweiSuccess #ResilientHuawei #TechGrowth #GlobalTechLeader https://t.co/jAiXaV82yF
#Huawei's #profit more than doubles in 2023, sales up 9.6% as #cloud and #digital businesses grow https://t.co/r1sUNPGfLJ
Huawei, the Chinese tech company at the heart of an international sanctions and spying row between China and the US and its allies, has said its profits more than doubled in 2023 https://t.co/qwNUb53kUs