The Chinese tech giant Huawei recorded an increase in revenues in the first half of 2023. Notably, Huawei reported revenue of 310 billion yuan, an increase of 3.1% year on year and a net profit margin of 15.0%.
Huawei returns to record positive results
The Chinese tech giant smartphones and electric cars increased by 2.2%, reaching 103 billion yuan in the first six months of 2023, a result that Huawei defined in line with the company’s expectations. Richard Yu, CEO of Huawei Consumer and Smart Car Business Group, triumphantly stated at the launch of the HarmonyOS 4 operating system at the Huawei Developer Conference (HDC) 2023 that the flagship smartphones of this popular brand are making a comeback.
The manufacturer also announced that the Huawei P60 and Mate X3 smartphones have reached the second place in the premium device segment in the Chinese market (according to a recent IDC report, the company managed to sell over 14 million units in China in the first six months of 2023, with a growth of 40% compared to 2022). After 4 years Huawei seems to have managed to get back on track even if before returning to previous levels (assuming and not granted that this is possible) there is still a long way to go.
“I’d like to thank our customers and partners for their ongoing support,” said Sabrina Meng, Huawei’s Rotating Chairwoman. “I’d also like to thank the entire Huawei team for its solidarity and dedication. Huawei has been investing heavily in foundational technologies to harness trends in digitalization, intelligence, and decarbonization, focusing on creating value for our customers and partners. In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth. Our digital power and cloud businesses both experienced strong growth, and our new components for intelligent connected vehicles continue to gain competitiveness.”