Huawei’s Comeback: The Success of Mate 60 Pro and Growth in Multiple Business Lines
Huawei made a strong comeback in the smartphone market in 2023, with the launch of the Mate 60 Pro in China. Despite ongoing restrictions from the US, the company’s device offered download speeds associated with 5G due to an advanced semiconductor chip. The success of the Mate 60 Pro helped drive Huawei’s smartphone sales in China and boosted its market share ahead of Xiaomi.
Despite a tough year following a significant decline in sales in 2021, Huawei’s revenue grew by 0.9% to 642.3 billion yuan in 2022. However, net profit plummeted by 69%, marking the largest drop on record. Factors such as rising commodity prices, strict pandemic controls in China, and increased research and development spend were cited as reasons for the decline.
In addition to its successes in the smartphone market, Huawei also reported growth in its intelligent automobile solutions business and consumer business in 2023. Revenue from intelligent automobile solutions increased by 128.1% to 4.7 billion yuan, while revenue from the consumer business grew by 17.3% to 251.5 billion yuan. ICT remained the biggest revenue driver at 362 billion yuan, up 2.3% year-on-year, and cloud revenue also saw significant growth, increasing by nearly 22% to 55.3 billion yuan.
Overall, Huawei’s strong performance across multiple business lines is a positive sign for its future growth prospects and continued success as a major player in the telecommunications industry.
At Mobile World Congress held in Barcelona during February 2024, one of Huawei’s largest displays attracted attention from attendees worldwide.
The Chinese telecommunications giant reported a significant increase
