On March 29, Huawei released its financial report for 2023, revealing a global sales revenue of 704.2 billion CNY and a net profit of 87 billion CNY.
Breaking it down, the ICT infrastructure business generated sales revenue of 362 billion CNY, up 2.3% year-on-year; meanwhile, the consumer business brought in 251.5 billion CNY in sales revenue, marking a 17.3% increase compared to the previous year.
In 2022, Huawei's consumer business achieved sales revenue of 214.5 billion CNY, which climbed to 251.5 billion CNY in 2023. This indicates that Huawei's consumer business sales are back on a growth trajectory, significantly propelled by the successful sales of the Mate 60 series.
Rotating Chairman Hu Houkun commented, "The overall operation of the group in 2023 met our expectations. Over the past few years, Huawei has faced numerous challenges and has continued to grow amidst these trials. It's the trust and support from our customers, partners, and all sectors of society that have enabled Huawei's survival and development."
Furthermore, Huawei continues to prioritize research and innovation, investing 164.7 billion CNY in R&D in 2023, which accounts for 23.4% of its annual revenue. Over the past decade, Huawei's cumulative R&D expenditure has exceeded 1,110 billion CNY.
