Huawei said its net profit rose 17.8% year-on-year to CNY54.9 billion
Chinese vendor Huawei recorded revenues of CNY417.5 billion ($58.8 billion) in the first half of the year, surging 34.3% year-on-year.
In a brief statement, Huawei also said its net profit rose 17.8% year-on-year to CNY54.9 billion, with its margin declining to 13.2% from 15% in the first half of last year.
“Our overall performance was in line with forecast,” said Eric Xu, Huawei’s rotating chairman. “Moving forward, we’ll continue driving high quality across all business processes, optimizing our portfolio to enhance business resilience, and building thriving ecosystems. Ultimately, our goal is to provide customers with even more competitive products and solutions,” Xu added.
Huawei had recorded total revenues of CNY704.2 billion ($99.1 billion) in 2023.
The Chinese company also reported net profits of CNY87 billion in 2023, up 144.5% year-on-year.
In 2023, Huawei invested CNY164.7 billion back into R&D, which accounted for 23.4% of its annual revenue. Altogether, the vendor’s R&D investment over the past decade amounted to CNY1.11 trillion.
Huawei launched what it claimed to be the world’s first “5.5G” intelligent core network during an event at MWC 2024 Barcelona.
The announcement was made by George Gao, president of Huawei cloud core network product line. Gao also noted that 2024 will be the first year for commercialization of what Huawei calls “5.5G”, otherwise known as 5G-Advanced.
Huawei believes that previous investments made by operators to deploy 5G network infrastructure will be protected with the future launch of 5G-Advanced, Huawei’s president of wireless solution, Cao Ming, previously said during a media roundtable at Huawei’s 14th Global Mobile Broadband Forum (MBBF), held in October 2023 in Dubai.
The executive said that 5G-Advanced networks will not require large investments by operators in new network architecture and will be launched using 5G Standalone (SA) networks. He also said that Huawei is working with its partners to make sure that future 5.5G applications, devices and services will be fully compatible with current 5G networks.
Huawei has previously said that it planned to launch a complete set of commercial 5.5G network equipment in 2024.
At MWC Shanghai 2024, Huawei hosted the global launch of its 5G-A pioneers program. The event brought together 5G operators from around the world, including China Mobile, China Telecom and China Unicom as well as Hong Kong Telecommunications (HKT), UAE-based du and Oman Telecommunications.
At the event, they announced 5G-A plans and discussed how to drive the development of 5G-A networks and how to seize opportunities to create new market space for growth.
