China's tech giant Huawei said it has moved out of a crisis mode in 2022 and will endeavor to turn 2023 into a period of fresh growth opportunities warranting a business-as-usual approach in spite of the US government restrictions, reported China Daily on January 3.
Xu Zhijun, the rotating chairman of Huawei, said in a letter to the employees that preliminary data showed that the company's revenue in 2022 was RMB636.9 billion ($91.53 billion). The number is fractionally higher than the corresponding 2021 figure, yet marks a big turnaround from the nearly 30% year-on-year sales tumble in 2021 due to the US sanctions, reported China Daily.
Xu said, "In 2022, we successfully pulled ourselves out of the crisis mode. US restrictions are now our new normal, and we're back to business as usual."
This year, the global tech industry is expected to face challenges like weak demand, which might weigh on many companies' performance, experts said.
Xu did not divulge Huawei's profit figures. The company typically discloses its full annual results in the following year's first quarter.
According to Xu, looking to 2023, the macroeconomic environment may be uncertain, but the company can be certain that digitalization and decarbonization are the way forward. The two fields embody future opportunities.
"We need to double down on our commitment to building the foundations of the digital economy and driving green and sustainable development," Xu told Huawei staff members in his letter.
Specifically, Huawei will maintain heavy investment in research and development, ensure high-quality products and services in its output, leverage a diverse business portfolio, cultivate strong business resilience for growth, and press ahead with organizational transformation, Xu said.
Huawei has been exploring new lines of business, including foray into smart cars, cloud computing, digital energy solutions, and enterprise-oriented businesses. "These efforts have started to pay off," Xiang said.
Data from the market research company Omdia showed that shipment of Huawei's smartphones reached 8.6 million units in the third quarter of 2022, up 48% year-on-year — a big reversal of the sales plunge in 2021, reported China Daily.
Ma Jihua, a veteran tech industry analyst, said Huawei's 2022 revenue level still remained well below its record $122 billion in 2019, when the company was at its peak as the world's top Android smartphone maker. But Huawei started to bounce back.
