An increase in revenue is being experienced by Huawei as their smartphones continue to have strong sales as well as 5G equipment.
Despite Western restrictions, China’s tech giant Huawei is experiencing an increase in revenue. (Photo: Ars Technica)
Huawei’s Increase In Revenue
Chinese tech giant Huawei saw a 9% increase in revenue in 2023, nearing the $100 billion mark, thanks to strong smartphone sales and 5G equipment. This increase in revenue was driven by the company’s breakthrough in chip technology, which challenged Apple and defied U.S. sanctions.
Huawei had an increase in revenue by 27% in Q4, reaching 243.4 billion yuan. The company’s new smartphone equipped with a cutting-edge 7-nanometer Kirin processor has gained market share from Apple’s iPhone 15 resulting in an increase in revenue.
According to a published article by Benzinga, Huawei has become a symbol of China’s determination to counteract U.S. restrictions. The company’s increase in revenue and rise in the chip market has also left the industry in awe, with Baidu switching to Huawei’s AI chips due to increasing U.S. restrictions.
Despite export controls, Nvidia plans to launch a less powerful gaming chip variant in China to further an increase in revenue amid scrutiny from the Biden administration.
Relocation Of Some Huawei Office Staffs
In a published article by The Diplomat, Huawei has shifted its focus to emerging markets in response to Western sanctions and has relocated some of its Moscow office staff to Kazakhstan and Uzbekistan.
This move allows the company to avoid secondary sanctions while still maintaining research and development offices in Russia.
