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Chinese tech giant Huawei Technologies expects to report revenue exceeding 700 billion yuan ($98.5 billion) for 2023, according to comments from rotating chairman Ken Hu in an internal new year message seen by Reuters. The figure indicates around 9% year-over-year revenue growth from the 642.3 billion yuan reported in 2022. The forecast offers further evidence that Huawei is rebounding after U.S. sanctions starting in 2019 crippled some of its business lines by restricting access to critical global technologies such as advanced chips. In a surprising move in August, Huawei launched its Mate60 series of smartphones, which are believed to be powered by a domestically developed chipset. The release was widely viewed as marking Huawei's comeback into the high-end smartphone market after years of struggling under US sanctions. Huawei's smartphone shipments surged 83% in October year-on-year, helping the overall Chinese smartphone market to grow 1...

Snapchat announces its third quarter 2023 financial results where it has grown to 406 million daily active users. Snapchat was able to add nine million new users in the last quarter. The platform has overall seen a growth of 12% as compared to last year. In addition to the growth in daily active users , Snap Inc. achieved an increase in revenue by 5% which equates to $1,189 million as compared to last year. Apart from that, the platform experienced a net loss of $368 million and adjusted EBITDA was positive $40 million . Read More Apple backs Biden's push for right-to-repair law Snap Inc. launched Snapchat+ subscription service that offers exclusive, experimental, and pre-release features. This service actively contributed to the growth . In addition to that, the platform also reached more than 200 million people through the MyAI chatbot. Source: https://thefoxposts.com/snapchat-witnesses-a-12-growth-with-406-million-users-TheFOXposts-39791.html?utm_source=blogger_sou...