Huawei’s Operating Profit Last Year Was KRW 19 Trillion 147% Increase Compared To The Previous Year

Huawei announced on the 29th through its 2023 annual report that its sales last year were 704.2 billion yuan (about KRW 130.8051 trillion), an increase of 9.6% compared to the previous year. Operating profit increased by 147.3% to 104.4 billion yuan (19.3925 trillion won). Net profit was 87 billion yuan (about 16.16 trillion won).

Huawei evaluated that its ICT infrastructure business achieved solid growth over the past year. The consumer business was viewed as performing in line with expectations. The cloud computing and digital power businesses also continued to grow, and the intelligent car solution business began large-scale deliveries.

Sales by business:

• ICT infrastructure business increased 2.3% from the previous year to 362 billion yuan (approximately KRW 67.2415 trillion).
• consumer business increased 17.3% from the previous year to 251.5 billion yuan (approximately KRW 46.7161 trillion).
• cloud computing business increased 17.3% from the previous year to 251.5 billion yuan (approximately KRW 46.7161 trillion) 55.3 billion yuan (approximately KRW 10.2719 trillion), an increase of 21.9% .
• The digital power business was calculated to be 52.6 billion yuan (approximately KRW 9.7704 trillion), a 3.5% increase from the previous year.

In addition, sales of the intelligent car solution business were 4.7 billion yuan (approximately 873 billion won), a 128.1% increase over the previous year. The company invested 164.7 billion yuan (about 30.593 trillion won) in

research and development ( R&D ), accounting for 23.4% of the company’s annual sales. The total amount invested by Huawei in R&D over the past 10 years is 1.11 trillion yuan (about 206.1825 trillion won).

Huawei expressed its ambition to actively pursue open collaboration and shared success with 9.5 million developers and 46,000 ecosystem partners around the world.

Through this, we plan to focus not only on developing core ICT technologies but also building platform capabilities for complex hardware and sophisticated software systems, opening them up to partners and seeking joint success.

Ken Hu, Huawei’s rotating chairman, said, “Last year, Huawei’s performance was in line with expectations. Although a lot has happened over the past few years, we were able to grow through successive challenges.”

He said, “Huawei leads open innovation, “By building a thriving ecosystem and achieving success based on quality, we will create greater value for our customers and society,” he emphasized.

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