Huawei's profit doubled in 2023 as smartphone, autos business picked up

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Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.

The telecommunications company made a comeback in the smartphone market in 2023 with the quiet release of its Mate 60 Pro in China in late August.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThe company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan . Net profit grew by 114.5% year-on-year to 87 billion yuan. The company sells software and other technology to car companies. It has also partnered with an automaker for the Aito electric car brand.

 

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