Danish Kapoor
Danish Kapoor

Huawei's 2023 financial results have been announced

Subscribe to Teknoblog content on Google News:

Chinese technology giant Huawei shared its financial results for 2023. The company announced that it reached $99.45 billion in revenue and $12.29 billion in net profit for the year in question. While Huawei's financial performance stands out especially with the importance it attaches to R&D and innovation, it was observed that there was an increase in revenue in various sectors.

Highlights of 2023 financial performance

Huawei's cloud computing, digital power and automotive segments have shown remarkable growth compared to last year. The company, which offers innovative products and services to reinforce permanent competitive advantages, states that it is based on the trust of customers and business partners. This trust has been an important factor in Huawei's ability to maintain its growth rate despite the various difficulties experienced in recent years.

Huawei's record R&D expenditure of $23.55 billion, corresponding to 23.4% of annual revenue, was also an indicator of its innovation-focused strategy. With a total R&D investment of 158.73 billion dollars in the last decade, the company continues to lead the technology sector.

Rotational CEO Ken Hu stated that he aims to add more value to customers and society through vibrant ecosystems and open innovation in 2024. He also expressed his gratitude to everyone who accompanied them on this journey of the company.

Looking at the financial details, it was stated that Huawei achieved a revenue of 51.77 billion dollars in the information and communication technologies infrastructure business segment, achieving a growth of 2.3%. In the field of consumer electronics, revenue of $35.96 billion was achieved, an increase of 17.3% compared to the previous year. While cloud computing revenues reached 7.91 billion dollars, a growth of 21.9% was recorded in this area. The digital power business segment experienced a 3.5% increase with revenue of $7.52 billion. In the smart automotive solutions segment, a huge growth of 128.1% was achieved, and the revenue increased to 672.1 million dollars.

Touching on its future plans, Huawei announced that it will continue to invest in technology and open innovation. Highlighting its mission of contributing to the modernization of different industries and supporting technological progress with these investments, the company emphasized its commitment to the open cooperation model. Huawei, which works with 9.5 million developers and more than 46,000 ecosystem partners worldwide, underlined that it focuses on quality as well as platform capabilities that will enable the development of information technologies and innovative software systems.

Danish Kapoor