Huawei gradually revived

Chinese technology giant Huawei Technologies forecasts this year's revenue of 98.5 billion USD, gradually "overcoming the storm" after US sanctions.

Reuters quoted the New Year's message sent to employees by Ken Hu - Rotating Chairman of Huawei Technologies - stating that the company's revenue is estimated to exceed 700 billion yuan (98.5 billion USD) this year. . This number is up 9% compared to last year, although still less than the 2019 level of 123 billion USD.

This is the latest evidence that Huawei is recovering after being imposed with many sanctions by the US since 2019, preventing them from accessing many important world technologies, such as advanced chips. This has had a strong impact on some of Huawei's business segments.

"After years of hard work, we have weathered the storm. And now, we are getting back to work," Ken Hu said in the message. He thanked Huawei's supply chain partners and employees for "overcoming difficulties together and never giving up".

A customer holds a Huawei Mate 60 Pro at Huawei's store in Beijing. Photo: Reuters

Huawei's chairman said that this year, its device segment, including smartphones, has recorded results "beyond expectations". In August, the company suddenly launched Mate60 series smartphones, using self-developed chips. This marks Huawei's return to the high-end smartphone segment after many years of difficulty.

As of the end of September, Huawei ranked fifth in terms of market share in China. This company's market share increased from 10% in the first quarter to 14% in the third quarter. In contrast, Apple recorded a decrease in market share from 20% to 15%.

According to research firm Counterpoint Research, the number of Huawei smartphones sold increased by 83% in October compared to the same period last year. This helps the scale of China's smartphone market grow by 11%.

By 2024, Hu said equipment will be one of the main areas they focus on expanding. "The devices segment will demonstrate our commitment to creating best-in-class products and building a premium brand," Hu wrote.

Huawei used to be the world's largest smartphone manufacturer, but lost this position when it was imposed with US sanctions in the past few years. US officials say Huawei threatens national security and that China can use the company's equipment for spying. Huawei has so far denied these accusations and is trying to improve its position in Washington.

This year, Huawei seems to have found a way to return to its golden age. In March, they said they had "escaped the crisis state", and noted progress in finding replacement parts for products affected by sanctions.

However, Huawei also admits they are facing many big challenges. "Geopolitical and economic fluctuations will arise, and technological and trade barriers will also continue to impact the world," Hu predicted.

To address these challenges, Hu said they will focus on increasing business performance. These include "simplifying headquarters, reducing management regulations, ensuring uniform policies and being ready to adjust when necessary".

This year 131 international organizations, from 73 countries, partnered with the PRA in Washington, D.C., and its Hernando De Soto Fellow Prof. Sary Levy-Carciente to produce the 17th edition of the IPRI..
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