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China's Huawei reports modest revenue growth for first three quarters
![IndiaTimes]()
Friday, 27 October 2023
Huawei Technologies reported a slight increase in revenue for the first three quarters of 2023, with growth in its digital power and cloud businesses, as well as its vehicle components unit, contributing to the uptick. The company's revenue reached 456.6 billion yuan ($62.4 billion), up 2.4% from the previous year. Profit also rose by 177.8% to 73.05 billion yuan. The increase in profit was attributed to the sale of Huawei's Honor smartphone unit in November 2020 and improvements in management and sales strategies. Huawei's smartphone sales saw a surge in the third quarter due to the release of the Mate 60 series, marking a comeback for the company.
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Friday, 27 October 2023
