Huawei Overcomes Sanctions , to Net Huge 2023 Profit.
'The Guardian' reports that Chinese telecom firm Huawei saw faster growth in 2023 than in the four years prior, shrugging off international sanctions.
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'The Guardian' reports that Chinese telecom firm Huawei saw faster growth in 2023 than in the four years prior, shrugging off international sanctions.
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The company reportedly saw a rebound in the consumer sector that helped drive revenue up by almost 10%.
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The results suggest that Huawei overcame the impact of sanctions imposed by former President Donald Trump in 2019.
At the time, the administration accused the telecom company of being a threat to national security, claims which Huawei has denied.
At the time, the administration accused the telecom company of being a threat to national security, claims which Huawei has denied.
In 2020, the United Kingdom took similar measures, looking to remove Huawei from the nation's 5G infrastructure by 2027.
'The Guardian' reports that despite the restrictions, 2023 marked the third consecutive year of growth for the company.
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We’ve been through a lot over the past few years but through one challenge after another, we’ve managed to grow, Ken Hu, Huawei’s chair, via 'The Guardian'.
In 2023, the company's net profits increased by 144.5%.
Huawei has contributed the stellar results to the sale of its Honor smartphone brand which launched in November of 2020.
The company's smartphone business has managed to thrive despite sanctions which have hampered Huawei's access to vital chipmaking tools.
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The company's smartphone business has managed to thrive despite sanctions which have hampered Huawei's access to vital chipmaking tools.
