Huawei Revenue Soars To Nearly $100 Billion After China Chip Breakthroughs
NDTV
Huawei made a splash in 2023 after releasing a smartphone with a sophisticated made-in-China 7-nanometer Kirin processor.
Huawei Technologies Co.'s revenue surged 9% in 2023, capping a dramatic year for a Chinese technology powerhouse that challenged Apple Inc. and US sanctions with a surprise breakthrough in chip technology.
Sales jumped to more than 700 billion yuan ($98.7 billion), their fastest pace of growth in years thanks to a resurgent smartphone business and robust 5G equipment sales. On a quarterly basis, revenue climbed 27% to at least 243.4 billion yuan, based on Bloomberg's calculations off the annual figure. That's a sharp acceleration from the third quarter's slight rise.
Huawei made a splash in 2023 after releasing a smartphone with a sophisticated made-in-China 7-nanometer Kirin processor, celebrated across the country over US restrictions intended to hobble the country's tech industry. The revelation ignited debate in Washington over whether those curbs had failed, and what more needed to be done.
