Huawei said it has come out of “crisis mode” after severe US restrictions impacted international sales. The Chinese tech giant has ramped up its telecommunications equipment business and boosted its overall revenue in 2022. In a New Year’s message to employees, current Huawei CEO Eric Xu noted that US sanctions are now the “new normal” and the company has returned to business as usual. Huawei
expects to end the current year with 636.9 billion yuan (about $91.5 billion) in revenue, almost unchanged from last year.
Huawei did not release earnings figures or provide a full breakdown across all of its business lines. Eric Xu pointed out that the company’s core business of selling telecommunications equipment has grown, and the downturn in the consumer device business, once dominated by Huawei, has stabilized. Such results are a sign that the Chinese tech giant has finally stabilized its operations after US sanctions. These restrictions effectively cut the company off from supplying cutting-edge chips, derailing what was then the largest smartphone business.
In recent years, Huawei has sought to develop new business lines, including software, cloud computing, and automotive technologies. In addition, the company has invested in China’s semiconductor industry in an effort to become more independent of overseas supply chains. Whatever the case, current sales volumes are well below their 2020 peak of over $120 billion. Before the US imposed sanctions, Huawei regularly released smartphones that competed with Apple and Samsung devices. Recent financial data suggests that the company’s revenue growth has begun to accelerate this year. In the fourth quarter, the increase was 5.5% compared to the same period last year. In 2023, business priorities will focus on maintaining high investment in research and development, as well as finding new opportunities in the telecommunications sector.
Source: Trash Box
Charles Grill is a tech-savvy writer with over 3 years of experience in the field. He writes on a variety of technology-related topics and has a strong focus on the latest advancements in the industry. He is connected with several online news websites and is currently contributing to a technology-focused platform.
