Huawei has just announced its financial report for the first half of 2023, recording revenue of 310.9 billion yuan (42.96 billion USD), up 3.1% over the same period in 2022, with a profit margin of 15%, equivalent to about 6.5 billion USD.

Of which, revenue from the ICT Infrastructure and Consumer Devices business segments reached 23.1 billion USD and 14.3 billion USD respectively. At the end of the first 6 months of the year, the Chinese technology company also recorded growth in business activities in the Cloud, Digital Energy, and Intelligent Automotive Solutions (IAS) segments.

These are all positive results recorded after the US administration under former President Donald Trump issued a trade embargo on Huawei. Ms. Meng Wanzhou, Huawei's rotating chairwoman, said: "In the first half of 2023, the ICT infrastructure business continued to be stable. The consumer device segment recorded growth, while the Cloud and Digital Power segments developed strongly. We also entered the smart connected vehicle sector to maintain our competitiveness in the market."

At the same time, 2023 is recorded as the first year Huawei returns to normal operations despite external restrictions remaining.

Mr. Yang Guang, Director of the Service Provider Group at market research firm Strategy Analytics, said that to avoid being affected by the US embargo, Huawei has made efforts to diversify its operations, focusing on industries that are less dependent on high-end chips and from there expanding into areas such as cloud services, digital energy... helping businesses cut carbon emissions, providing more 5G base stations and core network equipment for major telecommunications operators, signing patent licensing agreements...

Another highlight of the first-half financial report, according to TechWire Asia , is that Huawei's smartphone revenue returned to growth for the first time since the trade ban in May 2019. IDC's market research report shows that in the second quarter, Huawei returned to the Top 5 largest smartphone manufacturers in China.

The P60 and Mate X3 smartphones are the second best-selling premium smartphones in their home market. Huawei sold about 14.3 million units in the past six months in China alone, up 40% year-on-year, according to IDC.