Profits soared by 564%, the rotating chairman changed, and Huawei will set off a new storm?
Huawei's performance in 2023 can be described as amazing. The tech giant has made impressive achievements in the past year, with full-year revenue reaching RMB950 billion, up 28.7% year-on-year, and net profit reaching RMB680 billion, up 564% year-on-year. This growth is a remarkable feat in the current economic situation, and it is enough to make Huawei's competitors look at it.
Ren Zhengfei announced in the latest personnel adjustment that Xu Zhijun, the current chairman of Huawei's rotating chairman, will step down and Yu Chengdong, the current CEO of Huawei's consumer business, will take over this important position. This decision will undoubtedly bring new development opportunities for Huawei.
Yu Chengdong, a man born in Qingdao, Shandong Province in 1969, started as an ordinary salesman and worked his way up to Huawei's leadership position. He held various positions at Huawei, including sales and product line management, before finally taking charge of Huawei's consumer business in 2011. Under his leadership, Huawei's mobile phone business has made great progress, with an increasingly rich product line and an expanding market share.
Yu Chengdong has unique insights into the consumer electronics industry. He has repeatedly stated that Huawei will continue to increase investment in cutting-edge technologies such as 5G, artificial intelligence, and cloud computing, and apply these innovations to consumer electronics products to bring users a new experience. He also attaches great importance to the design aesthetics of the product, and hopes that Huawei's products will not only have excellent performance, but also have outstanding appearance.
During his tenure as CEO of the Consumer Business Group, Yu personally led the development of Huawei's flagship models, such as the P series and Mate series. These phones have been widely praised by consumers for their excellent performance and stylish and atmospheric design. It is thanks to Yu Chengdong's important contribution that Huawei's mobile phone business has achieved such impressive results in the past few years.
Yu Chengdong's appointment as Huawei's rotating chairman will undoubtedly put tremendous pressure on the tech giant's rivals. Apple, Samsung and other companies are expected to increase investment in 5G, artificial intelligence, cloud computing and other fields, and launch more innovative products to cope with Huawei's growing strength.
Apple, the world's most profitable tech company, has been investing more in 5G and artificial intelligence over the past few years. Its latest generation of iPhones already supports 5G networks, and has made great strides in terms of aviation and photography. Compared with Huawei, Apple is still relatively backward in terms of 5G base stations and network equipment. In the future, Apple is likely to increase investment in this field to maintain its competitiveness in the field of communications.
As the world's largest Android phone manufacturer, Samsung has always had fierce competition with Huawei. With the advent of the 5G era, Samsung is also accelerating the pace of its own 5G product line. In addition to mobile phones, Samsung is also applying 5G technology to other consumer electronics, such as wearables, home appliances, etc. Samsung is also investing heavily in areas such as artificial intelligence and the Internet of Things in hopes of taking a seat in the future wave of technology.
In addition to Apple and Samsung, other tech giants such as Google, Amazon, and Microsoft are also increasing their investment in cutting-edge technologies such as 5G, artificial intelligence, and cloud computing. These companies have launched their own 5G products and services, hoping to take an advantage in the future market competition.
In the face of such a fierce competitive environment, Huawei will obviously not stop there. In his latest internal speech, Ren Zhengfei emphasized that Huawei will continue to increase investment in 5G, artificial intelligence, cloud computing and other fields, and apply these innovative technologies to consumer electronics products to bring new experiences to users.
In the field of 5G, Huawei has achieved a leading position. Not only does the company hold a large number of 5G-related patents, but it is also an industry leader in 5G base stations and network equipment. Huawei will continue to increase its investment in the 5G field and launch more innovative products and solutions to consolidate its leading position.