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Huawei is really back: the company doubles its profit in 2023

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In 2023, Huawei made its comeback on the smartphone market. Although the manufacturer has never really stopped selling them, it has seen its market share collapse due to American sanctions, which prevented it from sourcing 5G chips for smartphones. But last year, Huawei finally found a way to circumvent these sanctions and offer high-end smartphones equipped with 5G on the Chinese market.

According to IDC data, thanks to its new 5G models, Huawei returned to the Top 5 of the smartphone market in China in the last quarter of 2023. And moreover, Huawei's comeback is not only visible on smartphone shipments, since the group's profits are also up sharply. In an article published this week, AFP indicates that according to Huawei, its profit in 2023 would have been 87 billion yuan ($12 billion). This is double the profit of 2022, but it does not yet exceed the record profit recorded in 2021.

In addition, Huawei's revenues also increased by 9 .6%. Still according to AFP, more than half of the revenue generated by the company comes from infrastructure. Consumer products and the cloud are in second place. In any case, the fact that shipments of Huawei smartphones are increasing, as well as its profits, calls into question the effectiveness of the actions that the United States has imposed on this company.

2024: the machine is launched?

As for smartphones, Huawei is expected to continue growing in 2024, now that it is able to compete with products from Apple, Samsung, and those of other Chinese brands. Moreover, Huawei is already considered a threat to iPhone sales in China, while forecasts indicate that Huawei could ship more folding smartphones globally than Samsung in the first half of 2024.

At the same time, the Honor brand is becoming a hit. As a reminder, Honor separated from Huawei to no longer suffer American sanctions. Thanks to access to the components necessary to make good smartphones, Honor first rebounded in China, before increasing its market share in other countries. Moreover, in Europe, shipments of Honor smartphones increased by 116% in the last quarter of 2023, according to data from Canalys.

  • Huawei is doing well despite US sanctions
  • Having found a way to source 5G chips despite network blockages Washington, it increased its smartphone sales
  • And its profit doubled in 2023

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116