Targeted by a series of American sanctions, to limit the impact of its products and its rapid development, Huawei has just made an announcement that is sure to make people cringe. Indeed, the Chinese giantwho led the development of the 5G technologyconfirmed a record increase in its profit.
Over these first months of 2024, the group would have multiplied its net profit fivefold. A first quarter concluded at 19.6 billion yuan, the equivalent of approximately 2.5 billion euros. A real surprise, proof of the resilience of the group, which seems to have succeeded in absorbing and turning the page on American sanctions, even though the latter could have dealt it a fatal blow.
Huawei meets expectations
Regarding turnover, the increase is also notable, with a +36.7% over one year, to 178.5 billion yuan, or the equivalent of 23 billion euros. If for a few months, the American sanctions will have worked, the group established on the side of Shenzhen will have finally succeeded in its transition, by focusing on other product types, such as software, business IT and connected devices.
Huawei has also launched into a sector of activity which has been particularly booming in China in recent months: the production of electric cars. With his brand Aitoit hopes to compete with some of the main local players in the market, such as Li Auto or BYD, which largely dominate the national market. However, nothing is known about its smartphone sales.
No figures on smartphone sales
This could suggest that they are not that good. Indeed, Huawei was at one time very close to shaking up the duopoly Apple – Samsung, but things quickly turned around after the Chinese giant was banned in 2019 from using technologies made in the United States. There were, however, numerous blows of power, with the notable arrival of the Mate 60 Pro.
