Huawei said its net profit margin was 15% during the period, up from 5% in H1 2022
Chinese vendor Huawei recorded revenues of CNY310.9 billion ($43.1 billion) in the first half of the year, an increase of 3.1% compared to the same period the previous year, the company said in a statement.
In the first half of 2022, Huawei’s revenues had declined by 5.9% while revenues in the first half of 2021 had declined by 29.4%
Huawei said it experienced growth in China and overseas during the period.
Huawei also informed that its net profit margin was 15% during the period, up from 5% in H1 2022. The vendor did not disclose its net profit for the period.
The company’s ICT infrastructure business contributed CNY167.2 billion, while its consumer business CNY103.5 billion. Meanwhile, Huawei’s cloud business recorded revenues of CNY24.1 billion during H1 2023, while its digital power business generated revenues of CNY24.2 billion. Finally, Huawei’s intelligent automotive solution (IAS) business recorded revenues of CNY1 billion.
“Huawei has been investing heavily in foundational technologies to harness trends in digitalization, intelligence, and decarbonization, focusing on creating value for our customers and partners,” said Sabrina Meng, Huawei’s rotating chairwoman.
“In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth. Our digital power and cloud businesses both experienced strong growth, and our new components for intelligent connected vehicles continue to gain competitiveness,” Meng added.
Huawei recently announced plans to launch a set of commercial “5.5G” network equipment in 2024. The announcement was made by Huawei’s director and president of ICT products and solutions Yang Chaobin during a presentation at MWC Shanghai 2023 in June.
5.5G is Huawei’s brand name for advancements in areas like integrated sensing and communication, Level 4 autonomous driving, “all-scenario IoT” concepts and green ICT. Huawei also noted that these future networks will enable a 10-fold improvement in latency, positioning accuracy and reliability. And according to the Chinese vendor, Passive IoT technology will enable an increase in the number of connected things from current 10 billion to 100 billion in 2030.
During the presentation, Yang also announced that Huawei has been working on applying AI-native technologies to 5.5G core networks to enhance network capabilities and availability. According to the vendor, this would allow AI capabilities to be delivered to the very ends of networks, so that they can better serve several industries.
Sabrina Meng, Huawei’s rotating chairwoman and CFO said in her keynote speech at the event that 5.5G technology will not only connect people better but it will also create incredible new business opportunities with more targeted support for industrial needs in domains like IoT, sensing, and advanced manufacturing.