Huawei expects its 2023 revenue to be just $1.5 billion shy of $100 billion in total،
Your year may have had its ups and downs, but for Huawei, 2023 was a great year. The Chinese giant expects serious revenue figures, almost triple digits (the “currency” is billions of dollars)!
In total, Huawei plans to report revenue above $98.5 billion for 2023, according to comments from rotating chairman Ken Hu in an internal New Year's message seen by Reuters.
Compared to 2022 figures, the expected revenue will mean Huawei achieved revenue growth of around 9% year-on-year and will further strengthen the view that the Chinese tech giant is finally recovering American sanctions which severely paralyzed its activity for five years. , starting in 2019 with restricted access to crucial technologies such as chips.
The internal message indicates that Ken Hu is certain that Huawei's devices business segment (which includes its smartphone arm) has performed better than expected in 2023: “Thank you to our partners across the value chain. “Staying by our side through thick and thin. And I'd also like to thank everyone on the Huawei team for embracing the fight – for never giving up,” Hu said. “After years of hard work, we managed to weather the storm. And now we are almost back on track.”
Much of this (or “all” of it) can be attributed to the surprise August launch of the Mate 60 Pro, which is said to be powered by a domestically developed chipset. This left many American officials trembling, but not with joy. Huawei's smartphone shipments jumped 83% in October year-on-year, helping China's overall smartphone market grow 11% over the same period, according to a Counterpoint research report.
Looking to 2024, Huawei said in the letter that the devices sector will be one of the main business areas it will focus on for expansion. “Our devices business must redouble its efforts to develop best-in-class products and build a premium brand with a human touch,” the letter said.
However, Huawei acknowledged in the letter that it faces significant challenges.
