Huawei’s profit more than doubles in 2023, sales up 9.6% as cloud and digital businesses grow

By ZEN SOO
AP Technology Writer

HONG KONG (AP) — Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions. The Shenzhen-based company reported a net profit of $12 billion, helped by strong sales and an improved product portfolio. Revenue jumped nearly 10% compared to a year earlier. Huawei’s rotating chairman Ken Hu said the company’s figures were in line with forecasts. One of China’s first global tech brands, Huawei has been caught up in China-U.S. tensions over technology and security. The U.S. has imposed sanctions on the company, saying its products and services pose a risk to national security.