Huawei’s First Half 2023 Business Results: Revenue Growth and Strong Performance

2023-08-12 13:24:00

(HUAWEI) – Huawei announced its business results for the first half of 2023 on Friday, August 11. The overall results are in line with expectations.

In the first half of 2023, Huawei generated revenue of CNY 310.9 billion ($42.9 billion), an increase of 3.1% year-on-year and a net profit margin of 15.0%. The company’s Information and Communication Technology (ICT) infrastructure business generated revenue of CNY 167.2 billion ($23.05 billion), consumer business recorded a revenue amounting to CNY 103.5 billion ($14.27 billion), cloud business contributed CNY 24.1 billion ($3.32 billion), digital power business contributed generated revenue of CNY 24.2 billion ($3.34 billion), while the Intelligent Automotive Solution (IAS) business achieved revenue of CNY 1 billion ($137.85 million).

« I would like to thank our customers and partners for their constant support “, said Sabrina Meng, rotating president of Huawei. « I would also like to express my gratitude to the entire Huawei team for their unwavering solidarity and commitment. Huawei has invested heavily in core technologies to take advantage of trends in digitalization, intelligence, and decarbonization, with strong emphasis on creating value for our customers and partners. During the first half of 2023, our ICT infrastructure business remained strong and our consumer business saw notable progress. Our digital energy and cloud businesses have both seen steady growth, and our new developments in components for smart connected vehicles continue to gain competitiveness. »

[1] The financial data disclosed here are unaudited figures compiled in accordance with International Financial Reporting Standards (IFRS).

[2] Exchange rate at the end of June 2023: 1 USD = 7.2543 CNY (source: external agencies).

About Huawei

Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have 207,000 employees and are present in more than 170 countries and regions, serving more than three billion people around the world.

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