Huawei's Business Comes Out Of The Woods, Chair Eric Xu Says
Huawei Technologies Co. reported growth in its telecom infrastructure business in 2022 and stable overall revenue, saying it has emerged from "crisis mode" following Trump-era sanctions.
Huawei Chairman Eric Xu said that Huawei will end the year with a profit of 636.9 billion yuan, or about 91.5 billion dollars; That was unchanged from the same period last year, the Wall Street Journal reported.
Huawei's third-quarter sales rose 7.2 percent to 191 billion yuan ($27.4 billion) after it found new revenue streams such as smart cars and cloud services.
In the year Sales in 2022 are expected to be 636.9 billion yuan, up slightly from last year, according to Bloomberg.
Xu said Huawei's core telecom infrastructure business is expected to rebound in 2022, while the company's once-dominant consumer device business has seen a decline.
By 2022 we have successfully come out of crisis mode. The restrictions in the US have now become our new normal and we are back to normal," Xu said. "
The macro environment may be full of uncertainty, but we can be sure that digitization and carbonization will open up future opportunities.
The US has stripped Huawei of its smart chips, disrupting its smartphone business. The United States has warned its allies not to use 5G telecommunications equipment, saying it is a national security threat.
Recently, Huawei has tried to develop new business lines, including software, cloud computing and automotive technology. Invests in companies in China's semiconductor industry.
However, annual sales are below the 2020 peak of more than $120 billion.
Before the U.S. imposed sanctions, they made smartphones that rivaled market leaders like Apple Inc (NASDAQ: AAPL ) and Samsung Electronics Co Ltd (OTC: SSNLF ).
Xu said 2023 will be a turning point.
Photo from Wikimedia Commons
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