Huawei says 2022 revenue meets expectations, “out of crisis mode”

Chinese tech giant Huawei expects its 2022 revenue to reach 636.9 billion yuan ($91.59 billion), almost unchanged from the previous year.

The results are in line with expectations, Eric Xu, Huawei’s rotating chairman, said in the company’s annual New Year message on Friday.

The revenue estimate for 2022 is slightly up from 636.8 billion yuan in 2021, when sales fell 28.5 percent on-year due to US sanctions.

Xu did not disclose Huawei’s profitability, which is usually revealed in full-year results in the first quarter of the following year.

Over the past year, Huawei’s ICT infrastructure business has maintained steady growth, while the decline of its device business has eased. It achieved rapid growth in its digital power and Huawei Cloud businesses, and improved the competitiveness and user experience of its intelligent automotive components, Xu said.

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“In 2022, we successfully exited crisis mode. The US restrictions are now our new normal, and we are back to business as usual,” Xu said.

In 2021, Huawei achieved revenue of 636.8 billion yuan, down sharply from 891.4 billion yuan in 2020. Its R&D investment reached 142.7 billion yuan in 2021, representing the 22nd, 4 percent of your annual income.

Xu said that digitization and decarbonization are the way forward, and that is where future opportunities lie.

In the coming year, the Shenzhen-based company will continue to strengthen its R&D investment and make its products and solutions more competitive through innovation, architectural reshaping, and system engineering design.

Article republished from the Chinese state media CGTN within the framework of an agreement between both parties to share content. Link to the original article:https://news.cgtn.com/news/2022-12-30/Huawei-says-2022-revenue-meets-expectations-out-of-crisis-mode–1gbFikZ5BWU/index.html