Huawei Overcomes Sanctions to Net Huge 2023 Profit from vote results 2020 cnn Watch Video

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✓ Published: 30-Mar-2024

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Huawei Overcomes Sanctions , to Net Huge 2023 Profit.<br/>'The Guardian' reports that Chinese telecom firm <br/>Huawei saw faster growth in 2023 than in the four <br/>years prior, shrugging off international sanctions. .<br/>'The Guardian' reports that Chinese telecom firm <br/>Huawei saw faster growth in 2023 than in the four <br/>years prior, shrugging off international sanctions. .<br/>The company reportedly saw <br/>a rebound in the consumer sector that <br/>helped drive revenue up by almost 10%. .<br/>The results suggest that Huawei overcame <br/>the impact of sanctions imposed by <br/>former President Donald Trump in 2019.<br/>At the time, the administration accused the <br/>telecom company of being a threat to national <br/>security, claims which Huawei has denied.<br/>At the time, the administration accused the <br/>telecom company of being a threat to national <br/>security, claims which Huawei has denied.<br/>In 2020, the United Kingdom took similar <br/>measures, looking to remove Huawei from <br/>the nation's 5G infrastructure by 2027.<br/>'The Guardian' reports that despite the <br/>restrictions, 2023 marked the third <br/>consecutive year of growth for the company. .<br/>We’ve been through a lot <br/>over the past few years but <br/>through one challenge after <br/>another, we’ve managed to grow, Ken Hu, Huawei’s chair, via 'The Guardian'.<br/>In 2023, the company's net <br/>profits increased by 144.5%.<br/>Huawei has contributed the stellar results <br/>to the sale of its Honor smartphone brand <br/>which launched in November of 2020.<br/>The company's smartphone business has managed <br/>to thrive despite sanctions which have hampered <br/>Huawei's access to vital chipmaking tools. .<br/>The company's smartphone business has managed <br/>to thrive despite sanctions which have hampered <br/>Huawei's access to vital chipmaking tools.