Huawei Technologies, the Chinese telecommunications giant, has reported a slight increase in revenue for the first three quarters of 2023. The company cites growth in its digital power, cloud, and vehicle components businesses as contributing factors. Huawei’s revenue reached 456.6 billion yuan ($62.4 billion), a 2.4% increase from the previous year. Profit also rose significantly, by 177.8% to 73.05 billion yuan, thanks to the sale of its Honor smartphone unit and improvements in management and sales strategies. Huawei’s smartphone sales rebounded in the third quarter, driven by the release of the Mate 60 series. Despite facing export controls and challenges in the smartphone market, Huawei ranked as the sixth-largest smartphone brand in China, with a market share of 12.9%. Additionally, Huawei-backed electric vehicle brand Aito has received more than 70,000 orders for its revamped M7 model.
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