On April 30, Huawei Investment Holdings Co., Ltd. disclosed its 2024 quarterly report. During the period, the company achieved operating income of about 178.45 billion yuan, an increase of 36.66% over the previous year; net profit to mother was about 19.65 billion yuan, an increase of about 564% over the previous year.

According to the latest report released by Canalys on April 26, the smartphone market in mainland China picked up for the first time in two years in the first quarter of 2024. Shipments remained the same as the same period last year, reaching 67.7 million units. Among them, Huawei experienced 13 quarters and regained first place in the mainland China market. With the enthusiastic market response of the MATE and Nova series, the shipment volume reached 11.7 million units, and the market share reached 17%.

On the other hand, Honor, Vivo, and Apple slowed down after active shipments in the fourth quarter of last year, ranking third, fourth, and fifth respectively. Honor ranked third with 10.6 million units shipped, up 9% year on year; vivo followed with 10.3 million units, with shipments falling 9% year on year; Apple had the biggest drop among the top five manufacturers, ranking fifth with 10 million units shipped, down 25% year on year.

According to Counterpoint's weekly mobile phone sales report data, smartphone sales in China increased 1.5% year on year in the first quarter of 2024, achieving positive year-on-year growth for the second consecutive quarter. (Sales volume refers to the number of products actually purchased and received by consumers.)

Huawei stood out from all mobile phone brand manufacturers in the first quarter, with a year-on-year increase of 69.7%. Huawei's growth is largely due to the boom in sales of its 5G-enabled Mate 60 series. Coupled with the well-known popularity of its own brand, its share of the high-end market above $600 has increased dramatically. Despite the impact of Huawei's strong return on other manufacturers in the market, Honor achieved 11.5% year-on-year growth in the first quarter thanks to several popular models and the expansion of its offline channels.

Also, it is worth noting that as Huawei's comeback changed the high-end market pattern, Apple's sales volume fell 19.1% year over year in the first quarter. It is the device's worst performance in China since 2020.

Photo source: Counterpoint

Huawei Pura 70 sold out in less than a minute

On the morning of April 18, the Huawei terminal Weibo suddenly officially announced the “Pioneer Plan” for the Pura 70 series, that is, the Pura 70 Ultra and Pura 70 Pro will go on sale at 10:08 on April 18; on April 22, the Pura 70 Pro+ and Pura 70 versions will then go on sale.

According to the Huawei Mall app, the Pura 70 series has the above four versions. Among them, the Pura 70 Ultra and Pura 70 Pro are already on sale. The minimum price of the Pura 70 Pro is 6499 yuan, and the highest price of the highest version, the Pura 70 Ultra, has reached 10,999 yuan.

Image source: Screenshot of the Huawei terminal

At 10:08 on the 18th, I saw on the Huawei Mall website that the Pura 70 Ultra and Pura 70 Pro were sold out in less than a minute.

In 2023, Huawei's sales revenue exceeded 700 billion yuan, and net profit was 87 billion yuan

On March 29, Huawei's official website released its 2023 annual report. The report shows that Huawei's overall operating conditions are in line with expectations, achieving global sales revenue of 704.2 billion yuan and net profit of 87 billion yuan. The ICT infrastructure business remains steady, the terminal business performance is in line with expectations, the cloud computing and digital energy business has achieved good growth, and the smart car solutions business has begun to enter the large-scale delivery stage. Huawei attaches importance to research and innovation. In 2023, R&D investment reached 164.7 billion yuan, accounting for 23.4% of annual revenue. The total R&D investment over ten years exceeded 111 billion yuan.

Hu Houkun, the rotating chairman, said, “The overall business situation of the Group in 2023 is in line with expectations. Over the past few years, Huawei has experienced many tests and continued to grow in the midst of challenges. It is the trust and support of customers, partners and all sectors of society that has helped Huawei survive and develop.”

In 2023, Huawei's ICT infrastructure business achieved sales revenue of 362 billion yuan, up 2.3% year on year; terminal business achieved sales revenue of 251.5 billion yuan, up 17.3% year on year; cloud computing business achieved sales revenue of 55.3 billion yuan, up 21.9% year on year; digital energy business achieved sales revenue of 52.6 billion yuan, up 3.5% year on year; and smart car solutions business achieved sales revenue of 4.7 billion yuan, up 128.1% year on year.

On March 14, the Huawei 2024 Partner Conference was held in Shenzhen. Wang Tao, executive director of Huawei and director of the ICT Infrastructure Business Management Committee, said in his keynote speech that from 2021 to 2023, R&D investment in these three years accounted for more than 20% of the company's revenue. In 2023, Huawei ranked in the top five in the world for total R&D investment.

Source of this article: Daily Economic News, original title: “564% year-on-year increase! Huawei's net profit for the first quarter was about 19.65 billion yuan, and mobile phone shipments regained first place.”