A Very Mobile Magazine Christmas - March 2024
Huawei sees advanced digital infrastructure being deeply integrated into every aspect of our lives, industry and society. This level of innovation will require significant network capabilities.
The leading company showcased a range of 5.5G, F5.5G and Net5.5G solutions at MWC and cemented its commitment to working with global operators and industry partners to embrace both the challenges and opportunities.
5G is flying and being adopted far quicker than 4G – the growth rate being seven times higher in the same time period, according to Huawei. By the end of 2023, more than 300 5G commercial networks had been launched, serving more than 1.6 billion people.
5.5G is a step-change and Huawei is helping operators in more than 20 cities around the world with commercial testing. One hotspot is the GCC, with countries including the UAE, Saudi Arabia, Qatar, and Bahrain all having completed 5.5G 10Gbps rate verification.
Operators in China, Finland, and Germany are also achieving similar impressive results with 5.5G.
“We're rapidly approaching an intelligent world,” said Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service in a keynote delivered at MWC.
“As the demands on networks have increased, 5.5G has become a key step on the path to the intelligent world. 5.5G is expected to enter commercial use in 2024. So, let's build today's networks for tomorrow's applications to advance the intelligent world.”
How 5G Innovation is Helping Drive Huawei's Revenue Growth
Huawei’s 2023 Annual Report in March 2024 showed impressive revenue of nearly US$100bn for the Chinese tech giant, cloud and 5G delivering digital transformation
Growth remains a key theme of Huawei’s recently released 2023 Annual Report, which shows that the Chinese technology giant generated revenue of US$99.5bn, with a profit of US$12.3bn.
This context positioned Huawei’s annual revenue above the likes of Tesla (US$96.8bn), Bank of America (US$98.6bn), Dell (US$91.1bn), and NTT (US$93.8bn) - all figures as of the original publication of this article in March 2024.
Huawei said that 2023 performance was in line with expectations, and that its ICT infrastructure business remained solid, while the consumer business met expectations.
Cloud computing and digital power businesses grew steadily, and the intelligent automotive solution business began large-scale delivery.
Likewise, research and innovation are cornerstones of Huawei’s long-term growth strategy and the company invested 23.4% (US$23.3bn) of its annual revenue into R&D in 2023. In total, R&D investment in the past decade has reached US$157bn.
“The company's performance in 2023 was in line with forecast,” said Ken Hu, Huawei's Rotating Chairman.
“We've been through a lot over the past few years. But through one challenge after another, we've managed to grow. The trust and support of our customers, partners and friends around the world is what helped us keep going, keep surviving and keep growing.”
See also in March
Aruba: Empowering IT Teams With Next-Generation Networks
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