Huawei Reports Modest Revenue Growth in Q3 2023 Despite Increased Phone and Car Sales

Shenzhen, Guangdong China
Huawei's global market share in Q3 2023 was 8.8%, a decrease from 10.2% in the same period in 2022.
Huawei shipped more than 30,000 units of its Seres SF5 electric vehicle in the first half of 2023.
Huawei's revenue for the first three quarters of 2023 was CNY 671.3 billion ($104.8 billion), a 1.3% increase from the same period in 2022.
Huawei's smartphone sales in China outpaced those of Apple in Q3 2023.

Huawei, the Chinese multinational technology company, reported a modest revenue growth in the third quarter of 2023, despite an increase in phone and car sales. The company's revenue for the first three quarters of 2023 was CNY 671.3 billion ($104.8 billion), a 1.3% increase from the same period in 2022. This growth was largely driven by the company's consumer business, which includes smartphones and other devices.

In the same period, Huawei's smartphone sales in China outpaced those of its competitor, Apple. The launch of Huawei's Mate 60 series in September 2023 contributed significantly to this growth. According to Counterpoint Research, Huawei's market share in China increased by 3% in Q3, while Apple's share decreased by 1%.

However, despite the growth in the domestic market, Huawei's global smartphone sales continue to be affected by U.S. sanctions. The company's global market share in Q3 was 8.8%, a decrease from 10.2% in the same period in 2022.

In addition to smartphones, Huawei has also been expanding its business in the automotive industry. The company's car sales have been growing steadily, with the company shipping more than 30,000 units of its Seres SF5 electric vehicle in the first half of 2023.


Confidence

95%

Doubts
  • The exact impact of U.S. sanctions on Huawei's global smartphone sales is not clearly quantified.

Sources

90%

  • Unique Points
    • Huawei’s revenue in the first three quarters of 2023 came in at 671.3 billion yuan ($105 billion), a 1.3% increase year on year.
    • The company’s smartphone business saw a 33% increase in shipments in China in the third quarter.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (95%)
    • The article slightly leans towards portraying Huawei in a positive light by emphasizing the growth in phone and car sales, despite the modest revenue growth.
    • Site Conflicts Of Interest (70%)
      • CNBC is owned by NBCUniversal, a division of Comcast Corporation. Comcast Corporation has significant investments in technology and telecommunications sectors which could potentially influence the reporting on companies like Huawei.
      • Author Conflicts Of Interest (100%)
        None Found At Time Of Publication

      88%

      • Unique Points
        • Apple’s iPhone sales in China have grown 5% year on year, despite the global chip shortage.
        • The iPhone 13 range has been particularly popular in China.
      • Accuracy
        No Contradictions at Time Of Publication
      • Deception (100%)
        None Found At Time Of Publication
      • Fallacies (100%)
        None Found At Time Of Publication
      • Bias (90%)
        • The article seems to favor Apple by highlighting the increase in iPhone sales in China, despite the global chip shortage.
        • Site Conflicts Of Interest (60%)
          • 9to5Mac is a news website that primarily covers Apple-related news. The site could potentially have a bias towards Apple, which may influence its reporting on competitors like Huawei.
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication

          96%

          • Unique Points
            • Huawei has gained ground in China during the third quarter of 2023.
            • The Chinese smartphone market is getting closer to recovery.
          • Accuracy
            No Contradictions at Time Of Publication
          • Deception (100%)
            None Found At Time Of Publication
          • Fallacies (100%)
            None Found At Time Of Publication
          • Bias (95%)
            • The article seems to favor Huawei by highlighting its gains in the Chinese market.
            • Site Conflicts Of Interest (100%)
              None Found At Time Of Publication
            • Author Conflicts Of Interest (100%)
              None Found At Time Of Publication

            90%

            • Unique Points
              • Huawei has grown faster than Apple in China in the third quarter of 2023, following the launch of the Mate 60.
            • Accuracy
              No Contradictions at Time Of Publication
            • Deception (100%)
              None Found At Time Of Publication
            • Fallacies (100%)
              None Found At Time Of Publication
            • Bias (95%)
              • The article seems to favor Huawei by emphasizing its growth in China, especially in comparison to Apple.
              • Site Conflicts Of Interest (70%)
                • CNBC is owned by NBCUniversal, a division of Comcast Corporation. Comcast Corporation has significant investments in technology and telecommunications sectors which could potentially influence the reporting on companies like Huawei and Apple.
                • Author Conflicts Of Interest (100%)
                  None Found At Time Of Publication

                96%

                • Unique Points
                  • Huawei has reported modest revenue growth in the first three quarters of 2023.
                • Accuracy
                  No Contradictions at Time Of Publication
                • Deception (100%)
                  None Found At Time Of Publication
                • Fallacies (100%)
                  None Found At Time Of Publication
                • Bias (95%)
                  • The article slightly leans towards portraying Huawei in a positive light by emphasizing the modest revenue growth.
                  • Site Conflicts Of Interest (100%)
                    None Found At Time Of Publication
                  • Author Conflicts Of Interest (100%)
                    None Found At Time Of Publication