Chinese tech big Huawei mentioned its income edged up 0.8% from a yr earlier within the first three months of 2023 and the corporate was worthwhile.

Revenue rose to 132.1 billion yuan (£15.3 billion), an organization assertion mentioned.

It mentioned its web revenue margin was 2.3%, down from 4.3% a yr earlier.

The firm, headquartered in Shenzhen, close to Hong Kong, has responded to US sanctions that devastated its smartphone model by increasing into serving hospitals, ports and different industrial clients.

It gave no breakdown of gross sales by world area or enterprise line.

It mentioned spending on analysis and improvement elevated however gave no particulars.

Huawei Technologies, China’s first world know-how model, has struggled since then-US president Donald Trump minimize off entry to US processor chips and different know-how in a feud with Beijing over know-how and safety.

American officers say the corporate is a safety danger and would possibly facilitate Chinese spying, which Huawei denies.

The firm is the most important world maker of community tools for telephone and web corporations.

It offered its Honor smartphone model in 2020 and switched its emphasis final yr on promoting know-how to automobile makers, factories, mines and different industrial clients.

Huawei reported earlier that its 2022 revenue fell 70% to 35.6 billion yuan (about £4.2 billion) whereas gross sales rose 0.9% to 642.3 billion yuan (£75 billion).

The firm reported an unusually giant 2021 revenue because of the sale of the Honor smartphone unit.

Half of Huawei’s 207,000 staff work in analysis and improvement.

The firm says it has been capable of develop alternative elements for US variations.

Huawei says it has made breakthroughs in creating its personal design instruments for processor chips.