The announcement comes as the US-sanctioned Chinese company’s recovery continues.
Huawei has been at the center of an intense confrontation between China and the US for some time. Washington has warned that Huawei equipment could be used for Chinese espionage operations. The company itself denies this.
in 2019 Sanctions imposed by Washington, which limited the company’s access to US manufacturing components, severely restricted Huawei’s smartphone manufacturing processes at the time. The Shenzhen-based company has responded by deciding to expand into other areas, including 5G, artificial intelligence and smart driving technologies.
Net profit in January-March amounted to 2.7 billion. US dollars (2.5 billion euros) and was 564 percent. higher compared to the first quarter of last year, according to results published by Huawei’s holding company on its official website. They were confirmed by a company representative.
Revenue also increased by 36.7 percent. and reached 24.7 billion US dollars.
Last summer, the company introduced the Mate 60 Pro smartphone with a chip that experts say would be impossible to manufacture without foreign technology. As a result, the effectiveness of US restrictions has been called into question.
Bloomberg, citing market research firm Counterpoint, reported that sales of iPhones made by Huawei’s rival Apple in China fell 19 percent in the first quarter.
The latest figures come a month after Huawei said its profits would more than double in 2023. During that year, the company continued to diversify.
