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Exclusive: Despite US Sanctions, Huawei Reports a Small Rise in Revenue

Huawei has successfully pulled itself out of crisis mode, pushing its consumer electronics business to new heights.

In addition to the US market, Huawei was also kicked out of India and other sizable markets. Although the corporation claims to have exited crisis mode, the most recent quarter may have really seen a major improvement. Huawei likewise intends to expand its consumer electronics division.

HIGHLIGHTS

  • On Friday, Huawei said that its total revenue for the months of January through March was $13.1 billion.
  • The company’s overall operational performance were deemed to be in line with forecasts despite continuing difficulties brought on by US sanctions.
  • After the US imposed trade restrictions, cutting off access to essential components and prohibiting it from using Google’s Android operating system, Huawei’s sales plummeted significantly.

The Shenzhen-based telecommunications behemoth Huawei reported total revenue of 132.1bn ($19.1bn) for the months of January through March, a rise of 0.8% over the same time last year. The company’s overall operational performance were described as being “in line with expectations” notwithstanding the continued difficulties caused by US sanctions. According to an AFP article, Huawei’s net profit margin for the first quarter of 2023 was 2.3% as opposed to 4.3% for the same time in 2022.

Since the US implemented trade restrictions, barred access to necessary components, and rendered Google’s Android operating system inoperable, sales at Huawei, previously the world’s leading smartphone manufacturer, have been severely impacted. Since then, the corporation has made an effort to focus more on cloud computing and consumer technology like smartwatches rather than its usual concentration on telephony and high-end hardware.

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It is important to note that Huawei has been exposed in a number of important markets, including India and the United States. Therefore, if the business claims to have effectively emerged from crisis mode, then circumstances may have significantly improved from the previous quarter. Huawei is attempting to grow its consumer electronics division as well. Only time will be able to determine whether or not it will be beneficial in the long run.

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Written by Shallu Srivastav

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