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Growth returns to Huawei’s consumer business as smartphone sales rise again despite US sanctions
- The Chinese giant’s revenue grew more than 3 per cent in the first six months of the year, up from 0.8 per cent in the first quarter, the company says
- Sales from the consumer business group, which includes smartphones and electric vehicles, rose 2.2 per cent after two years of decline
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Huawei Technologies’ consumer business returned to growth after substantial decline in its smartphone sales in the past two years, as the Chinese telecoms equipment giant defies the impact of US sanctions to revive its once-lucrative handset segment.
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The company said its total revenue grew 3.1 per cent in the first half of 2023, reaching 310.9 billion yuan (US$43.1 billion) and higher than the 0.8 per cent revenue growth seen in the first quarter and the 0.9 per cent growth for the full year of 2022.
Sales from the consumer business group, which includes smartphones and electric cars under the Aito brand, rose 2.2 per cent to 103.5 billion yuan, the company reported on Friday.
Huawei said its first-half performance was in line with forecast. While the Shenzhen-based company is privately held, it voluntarily discloses key financial data on a regular basis.
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The improved results followed Huawei’s efforts to survive US sanctions by resuscitating its handset business and diversifying into new industries, including cloud computing and electric cars.
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Richard Yu Chengdong, chief executive of the company’s consumer business group and its car unit, last week announced that Huawei’s flagship smartphones are “making a comeback” as he unveiled the latest update of its own Harmony operating system.
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