Huawei's 2023 Revenue Exceeds $118 Billion as Tech Giant Continues to Grow
Huawei's chairman, Liang Hua, has announced that the company's annual revenue surpassed 860 billion yuan ($118.27 billion) in 2023. This represents a 22% year-over-year increase from 2022's revenue of 704.2 billion yuan.
The revenue growth reflects Huawei's resilience in navigating the challenges posed by U.S. sanctions. The company's consumer business has experienced a particularly strong recovery, with the launch of new smartphones featuring domestically produced chipsets. According to data from Canalys, Huawei captured a 16% share of the Chinese smartphone market in 2023, surpassing Apple.
"In 2024, Huawei's overall operations will meet expectations," said Liang. "ICT infrastructure will remain stable, consumer business will continue to grow, and the smart car solution business will expand rapidly."
Huawei's growth in 2023 was its fastest in four years. The company attributed this success to its focus on innovation and its commitment to developing cutting-edge technologies.