Huawei generated CNY132.1 billion in revenue

The Chinese telecommunications giant Huawei has officially announced the Q1 2023 revenue. According to the latest information, Huawei generated 132.1 billion yuan (US$20 billion) in sales for the first quarter, a marginal rise of 0.8 per cent from the 131 billion yuan in the same period last year.

Overall business results were in line with forecast. Huawei has yet again increased investment in R&D to keep innovating for the future, create new value for its customers, partners, and the communities worldwide, and promote quality development.

Huawei has stepped up development of domestic replacements for electronic components, an effort which began a decade ago, long before it was sanctioned by the US, according to Eric Xu, a rotating chairman, at last month’s conference.

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