Huawei Overcomes Sanctions , to Net Huge 2023 Profit.
'The Guardian' reports that Chinese telecom firm
Huawei saw faster growth in 2023 than in the four
years prior, shrugging off international sanctions. .
'The Guardian' reports that Chinese telecom firm
Huawei saw faster growth in 2023 than in the four
years prior, shrugging off international sanctions. .
The company reportedly saw
a rebound in the consumer sector that
helped drive revenue up by almost 10%. .
The results suggest that Huawei overcame
the impact of sanctions imposed by
former President Donald Trump in 2019.
At the time, the administration accused the
telecom company of being a threat to national
security, claims which Huawei has denied.
At the time, the administration accused the
telecom company of being a threat to national
security, claims which Huawei has denied.
In 2020, the United Kingdom took similar
measures, looking to remove Huawei from
the nation's 5G infrastructure by 2027.
'The Guardian' reports that despite the
restrictions, 2023 marked the third
consecutive year of growth for the company. .
We’ve been through a lot
over the past few years but
through one challenge after
another, we’ve managed to grow, Ken Hu, Huawei’s chair, via 'The Guardian'.
In 2023, the company's net
profits increased by 144.5%.
Huawei has contributed the stellar results
to the sale of its Honor smartphone brand
which launched in November of 2020.
The company's smartphone business has managed
to thrive despite sanctions which have hampered
Huawei's access to vital chipmaking tools. .
The company's smartphone business has managed
to thrive despite sanctions which have hampered
Huawei's access to vital chipmaking tools.