Ken Hu,the rotating chairman of Huawei Technologies, stated in an internal new year greeting received by Reuters that the Chinese tech company anticipates reporting sales above 700 billion yyuan,which is around $98.5 billion for 2023. From the 642.3 billion yuan announced in 2022, the result shows a 9% year-over-year revenue rise. The estimate provides more proof that Huawei is making a comeback after crippling several of its business lines with access to vital global technology like cutting-edge semiconductors due to U.S. restrictions that began in 2019.
Huawei surprised everyone in August by releasing its Mate60 line of smartphones, which are rumored to be powered by a CPU that was built in the country. After years of hardship due to US sanctions, many saw the announcement as Huawei’s return to the high-end smartphone market. Smartphone shipments from Huawei went up to 83% in October compared to the same month last year, according to Counterpoint reports. This is like contributing to the 11% growth in the Chinese smartphone industry as a whole.
Ken Hu added that the performance of Huawei’s device business sector, which encompasses its smartphone business, in 2023 exceeded expectations in a memo written to employees.
In the letter, Huawei stated that one of its primary business areas for growth will be the device industry by 2024. Even though there are many difficulties, Hu acknowledges that. He stated that Huawei will concentrate on enhancing the effectiveness of its business operations in order to address these issues. Along with making necessary improvements, these efforts included streamlining HQ, streamlining management, and guaranteeing uniform policy.
Ken Hu’s statements regarding the contexts:
“Thanks to our partners across the value chain for standing with us through thick and thin. And I’d also like to thank every member of the Huawei team for embracing the struggle and for never giving up.”
“After years of hard work, we’ve managed to weather the storm. And now we’re pretty much back on track.”
“Geopolitical and economic uncertainties abound, while technology restrictions and trade barriers continue to have an impact on the world.”
