Huawei says it has ‘weathered the storm’ of sanctions and expects revenue growth in 2023

Huawei has managed to “weather the storm,” successive President Ken Hu said in a New Year’s message this Friday, signaling that the Chinese telecom giant has managed to overcome US sanctions and increase revenue.

The company is “back on track,” Hu said, thanking customers, partners, employees and families for their “continued trust and support.”

Despite “geopolitical and economic uncertainty” and “the impact of technological and commercial barriers,” Huawei maintained the “strength” of its telecom infrastructure business, he noted.

Hu predicted that Huawei will end this year with revenue of more than 700 billion yuan (89 billion euros), up more than 9% from 2022 turnover of 642.3 billion yuan (85.9 billion euros).

The official said that in the face of changes in the external environment, Huawei “firmly believes that digital, intelligent and low-carbon transformation will remain the prevailing development trend in the world” and that the company needs to “maintain its focus.” strategic,” leveraging “the collective strengths of its business portfolio” and “capacity to innovate.”

Huawei’s launch this year of the Mate 60 Pro cell phone, which allegedly uses a seven-nanometer (nm) chip made by China’s largest semiconductor maker SMIC, surprised analysts and generated much enthusiasm in the Asian country.

The model is seen as a symbol of Huawei’s recovery from the fallout from sanctions imposed by the United States in 2019 over alleged ties to the Chinese military.

The sanctions forced the company to develop its own operating system, called HarmonyOS, after it was left without access to Android, owned by North American company Google.

Huawei also lost access to advanced semiconductors produced by the US or allied countries.