2023-08-12 08:56:00
Huawei released its new financial report on Friday (11) with data for the first half of fiscal 2023, showing its most promising results in years. According to the document, the Chinese giant saw a 2.2% increase in revenue its consumer business, recording revenues of ¥103.5 billion (regarding R$70 billion).
The growth takes place once morest a challenging backdrop for Huawei. In addition to the trade sanctions imposed by the United States since 2019, the market recovery is slower in China. Despite the difficulties, the manufacturer raised a total of ¥ 310.9 billion (regarding R$ 210.1 billion), an increase of 3.1% over the same period in 2022.
To contrast, the company’s total revenue in its first half is more than double the amount recorded in the same period in 2019 and 2020. By that time, the company had begun to suffer from trade restrictions in Western countries, which led to a drop sharp increase in its revenue from mobile devices and telecommunications hardware.
Consumer business, on the rise, includes cell phones, tablets, notebooks and other consumer products from Huawei. Recently, the brand introduced its new generation of top-of-the-line smartphones with the Huawei P60, P60 Pro and P60 Art.
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In B2B operations, the company recorded a significant increase in the infrastructure division in its revenue in the 1st half of 2023. The business aimed at telecommunication operators was the segment with the highest revenue — ¥ 167.2 billion (regarding R$ 113 billion ) — despite being one of the biggest targets of trade embargoes.
Huawei also reported a Significant increase in your net profit margin, which remained at 15% in the 1st half of 2023. In the same period last year, the margin was only 5%. Although the numbers are positive, the company’s representatives are cautious when establishing expectations for the coming months.
“The industry and global markets will remain fraught with uncertainty for the remainder of 2023,” a spokesperson told CNBC. “However, we continue to build our mechanisms for global business continuity management and an agile operations management system, [e] we are confident that we can meet our annual targets.”
Huawei grew 76% in the Chinese market, according to CEO
During the HarmonyOS 4 presentation event, Yu Chengdong, CEO of Huawei, signaled that the company is “back in the game” in the mobile market. After a period of difficulties and revenues in free fall, the manufacturer grew 76.1% in the segment, returning to stand out in its country of origin and tying with Xiaomi.
Huawei and Apple are the only manufacturers in the country’s top five that have grown amid a widespread drop in smartphone sales in China. Honor, which previously belonged to Huawei, had one of the sharpest declines with a 17.9% drop.
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