In 2023, Huawei made a significant comeback in the smartphone market with the release of its Mate 60 Pro in China. Despite facing U.S. restrictions on accessing high-end tech from American suppliers, the Mate 60 Pro was well-received for its download speeds associated with 5G. This helped boost Huawei’s sales in China and led to a rise in market share. In fact, smartphone shipments in the country increased by 47% in the fourth quarter.
Huawei’s revenue grew by 128.1% in its intelligent automobile solutions business, indicating strong growth in this area. The company’s consumer business also saw growth, with revenue rising by 17.3% to 251.5 billion yuan. The ICT segment remained Huawei’s largest revenue driver, bringing in 362 billion yuan and up by 2.3% from the previous year. Additionally, cloud revenue saw significant growth of nearly 22% to 55.3 billion yuan
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