08/11/2023 – 12:52
Chinese technology giant Huawei increased its revenue by 3% in the first half of 2023, compared to the previous year, and its profit margin also increased, despite sanctions that block access to processor chips and other technologies from the United States. .
Revenue for the six months ending in June rose 3.1% to 310.9 billion yuan ($43.1 billion), Huawei Technologies Co. said. The company did not provide profit figures, but said its profit margin was 15%, which would be around 45 billion yuan ($6.5 billion) and an increase from the 4.3% margin. recorded in the first quarter of this year.
Sales from its infrastructure unit were 167.2 billion yuan ($23.2 billion), according to Huawei. Consumer sales were 103.5 billion yuan (14.3 billion US dollars). Sales at the fledgling automotive unit, which provides networking and other technologies for electric cars, were 1 billion yuan ($138.6 billion).
Half of Huawei’s 207,000 employees work in research and development. The company said it had managed to develop replacements for US components and that it had made strides in developing its own design tools for processor chips. Source: Associated Press.
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