• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12586.41
    • RUB160.42
    • EUR14758.82
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +35°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Economics

    Huawei reports almost $2 bn net profit in Q4 2023, up 65% y/y

    Huawei reports almost $2 bn net profit in Q4 2023, up 65% y/y

    Huawei reported a significant increase in its quarterly profit, marking a continued trend of strong financial performance. The company's net profit for the December quarter was calculated at approximately ¥ 13.9 bn ($1.9 bn), an increase of over 65% from the ¥ 8.4 bn ($55.5 mn) reported in the same period the previous year. This growth is attributed to the resurgence of its consumer business, particularly against competitors such as Apple, and the expansion of its cloud division, challenging incumbents such as Alibaba.

    Photo: Huawei
    Source: Bloomberg 

    Despite being the focus of U.S. sanctions and export controls for several years, Huawei demonstrated remarkable progress in adapting to these challenges. In August, the company announced its flagship Mate 60 smartphone series, equipped with a domestically designed and produced 7-nanometer processor. This launch spurred a wave of nationalistic support in its home market, contributing to a 17.3% surge in its consumer electronics division in 2023, with sales reaching  ¥ 251.5 bn ($1.7 bn).

    Huawei's resilience is seen as emblematic of China's broader effort to overcome U.S. restrictions. Following its near-exclusion from the global smartphone and chipmaking industries in 2019, the company began establishing a network of chipmaking facilities. These developments support its ambitions in sectors such as electric vehicles (EVs) and artificial intelligence (AI).

    The company's cloud computing arm experienced nearly a 22% growth over the past year, as Huawei made significant inroads against domestic rivals Alibaba and Tencent. Notably, this month, Huawei implemented an AI-powered weather forecasting model in partnership with the meteorological bureau of Shenzhen, showcasing the practical applications of its technological advancements.

    Photo: Huawei's consumer and cloud divisions powered growth in 2023
    Source: Huawei

    Additionally, Huawei's chips were integrated into the systems of Chinese AI developers, further cementing its presence in the technology sector.

    While not venturing as far as Xiaomi in launching its own-brand EVs, Huawei made considerable progress in supplying technology for the automotive industry. This segment of its business expanded by 128% in 2023, with the company actively promoting Aito vehicles in its retail outlets across China.

    Huawei's resurgence occurs against the backdrop of increasing governmental pressure on Apple within China, promoting the adoption of domestic technology across various industries. This policy shift coincided with a decline in iPhone shipments in China by approximately 33% in February y/y, highlighting challenges for foreign brands in the Chinese market.

    However, Huawei remains cautious about the future, acknowledging the potential for volatility in the industry and the global economy in 2024. Following its advancements in semiconductor technology, U.S. officials, including Commerce Secretary Gina Raimondo, have expressed a readiness to take any necessary measures to safeguard national security. This stance suggests that Huawei may face continued or increased challenges from international policies and trade practices in the coming year.

     

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    01.04.2024, 11:00   Comments (0)   1406
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Chinese Huawei grows precence in Central Asia's telecom industry 

    28.12.2023, 11:23

    Huawei Tech Investment Tashkent to strengthen banking capacity in Uzbekistan

    16.03.2024, 02:51

    Uzbekistan’s car production sees over 2.04 times increase, surpassing 53,000 vehicles 

    01.04.2024, 09:00

    Kyrgyzstan’s GDP per capita soars to $1,969 in 2023 

    31.03.2024, 09:00

    National Power Grid of Uzbekistan generates over $90 mn from electricity exports in 2023

    30.03.2024, 15:00

    Uzbekistan’s GDP sees 6.4% increase from Navoi Mining and Metallurgical Company's operations in 2023 

    28.03.2024, 22:29
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beeline Uzbekistan started 2025 with a significant network modernization


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?

     

    Recommended

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12

    “Uzbekistan is undergoing large-scale reforms and transformation,” says EU business leader at TIIF

    11 June, 08:34

    Central Bank warns half of monthly income goes to loans as debt burden rises in Uzbekistan

    3 June, 12:34
     
     
     

    Latest news

    EDB signs nearly $2.1bn in projects in 1H25 as Uzbekistan joins agreement on its establishment

    Uzbekistan | 28 June, 15:35

    Uzbekistan jumps 19 spots in global SDG index, fastest progress in Central Asia and Eastern Europe

    Uzbekistan | 28 June, 13:30

    Uzbekistan to digitally register 1mn trees in Tashkent by end of 2025

    Uzbekistan | 28 June, 11:00

    Saida Mirziyoyeva hails Fitch upgrade of Uzbekistan’s credit rating as experts see major financial benefits

    Uzbekistan | 27 June, 18:57

    Manchester City owner sets sights on Uzbekistan’s football future

    Sport | 27 June, 18:33

    Trade with EAEU grows 80% in four years, says Uzbekistan’s president

    Uzbekistan | 27 June, 17:15

    Afghanistan faces worsening humanitarian crisis as UN urges sustained aid amid rising needs

    Afghanistan | 27 June, 15:33

    Uzbekistan’s greenhouse tomato exports continue to decline with 23% drop in 4M25

    Uzbekistan | 27 June, 14:00

    IFC invests $15mn in Kyrgyzstan’s first sustainability bond to support green and inclusive projects

    Kyrgyzstan | 27 June, 12:30
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.