China’s Huawei announce 2023 H1 business results

Beijing: China’s telecommunication giant Huawei announced its business results for the first half of 2023 in Shenzhen, China on Friday. Overall performance was in line with forecast.

In first half of the year 2023, Huawei generated CNY310.9 billion in revenue, with a year-on-year increase of 3.1% and a net profit margin of 15.0%.

The company’s ICT infrastructure business contributed CNY167.2 billion, its consumer business CNY103.5 billion, its cloud business CNY24.1 billion, its digital power business CNY24.2 billion, and its intelligent automotive solution (IAS) business CNY1 billion.

“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.”