Huawei’s profits jump 114% in 2023

Chinese Huawei’s profits doubled in 2023, amid growing car and phone businesses, rising by 114.5% year-on-year to 87 billion yuan in 2023. Revenues increased by 9.6% to $99.18 billion during the same period.

According to Huawei, the operations and sales of some high-quality businesses helped support profits, and achieved

A strong return to the smartphone market in 2023, with the Mate 60 Pro released in China at the end of August.

Reviews of the phone indicate that it provides download speeds related to fifth generation technology with the support of an advanced semiconductor chip.

These developments came despite US restrictions since 2019 on Huawei’s imports of high-tech supplies from America.

The Mate 60 Pro helped support the company’s sales in China during the fourth quarter, as Huawei’s shipments of smartphones in Beijing rose by about 47% year-on-year.

Regarding the Chinese company’s revenues at the level of smart car solutions, they rose 128.1% to 4.7 billion yuan. It sells software and other technology to car companies.