Huawei Technologies reported a 118% uptick in net profit to 26.4 billion yuan (US$3.6 billion) in the third quarter of 2023. This surge was partly driven by sales of the Mate 60 Pro, which houses a 7nm processor made by Semiconductor Manufacturing International Corp.

The device’s success sparked speculation that Huawei could revive its fortunes and challenge Apple’s foothold in China.