Huawei in Ireland sees turnover drop as work continues on Irish 5G network

Chinese communications multinational has been the target of national security concerns in US and EU

Calvin Lan, chief executive at Huawei Technologies Ireland. Turnover dropped to €176.6 million, from €195.7 million in 2022, according to the accounts, which say the company is “continuing to develop Ireland’s 5G network infrastructure”. Pre-tax profits in 2023 were €7.6 million

Turnover in 2022 was a substantial jump on turnover in 2021 but the trend changed during 2023. The review of principal risks and uncertainties facing the group in the accounts does not mention geopolitical tensions. Ireland accounted for €98.8 million of the turnover of Huawei Technologies in 2023, the accounts show, with the rest of Europe accounting for €41 million, and the rest of the world €38.5 million. The previous year had a similar spread of turnover.

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