BN Report
Chinese tech giant Huawei, in its business results for the first three quarters of 2023, said revenue for the first three quarters of the year rose by 2.4% year-on-year to 456.6 billion yuan ($62.33 billion) — the highest for the period since 2020. U.S. sanctions on the Chinese telco maker started in 2019.
Despite those restrictions on Huawei’s ability to access high-end tech, reviews indicated the company’s new Mate 60 Pro smartphone offers download speeds associated with 5G — thanks to an advanced semiconductor chip.
During this period, Huawei generated CNY456.6 billion in revenue, with a year-on-year increase of 2.4% and a net profit margin of 16.0%.
“The company’s performance is in line with forecast,” said Ken Hu, Huawei’s Rotating Chairman.
“I’d like to thank our customers and partners for their ongoing trust and support. Moving forward, we will continue to increase our investment in R&D to make the most of our business portfolio and take the competitiveness of our products and services to new heights. As always, our goal is to create greater value for our customers, partners, and society.”
