Huawei’s profit doubled in 2023 as smartphone, autos business picked up


Huawei brought one of the largest displays to Mobile World Congress in Barcelona in February 2024.

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BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.

The company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Net profit grew by 144.5% year-on-year to 87 billion yuan.

Higher quality operations and sales of some businesses contributed to profitability as well, according to Huawei.

The telecommunications company made a comeback in the smartphone market in 2023 with the quiet release of its Mate 60…

Source cnbc.com

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