Unstoppable Momentum! China’s Chip Breakthrough Propels Huawei’s Profits to Double!

Huawei announced its operating performance for the first three quarters of 2023, showcasing strong financial results. The company achieved sales revenue of 456.6 billion Yuan and a net profit of billion Yuan. The net profit for the quarter ending in September surged by 118% to 26.4 billion Yuan, mainly driven by the initial sales of the popular Mate 60 Pro smartphone. Huawei’s net profit for the first three quarters of 2023 has already surpassed twice the net profit of the entire year of 2022. Although specific revenue details for each business segment were not disclosed, Huawei’s ICT infrastructure, terminal, cloud computing, digital energy, and smart automotive solutions businesses all experienced growth. Notably, the terminal business, which had previously faced challenges due to U.S. sanctions, saw a 2.2% year-on-year revenue increase in the first half of the year, reaching 103.5 billion Yuan. Huawei’s release of the Mate 60 series smartphones in Q3, featuring self-developed Kirin chips and HarmonyOS, significantly revitalized the company. The phones received positive consumer response, with sales surpassing 10 million units and potentially impacting Apple’s position in the Chinese market. Analysts predict that Huawei could produce up to 70 million smartphones equipped with Kirin chips by 2024, a substantial number compared to Apple’s annual shipment volume of around 220 million iPhones. “China Focus“ is a YouTube channel created to provide current events and pop culture headlines from you can get to know a more real China through my video. ｜ #ChineseNews #chips #ChinaFocus Thanks for your watching and subscribing.