Huawei gradually revives - VnExpress Business

Chinese tech giant Huawei Technologies forecasts revenue of $98.5 billion this year, gradually "weathering the storm" after US sanctions.

Reuters quoted Ken Hu, rotating chairman of Huawei Technologies, in a New Year message to employees, saying the company's revenue is estimated to exceed 700 billion yuan ($98.5 billion) this year. That is up 9% from last year, but still below the 2019 level of $123 billion.

This is the latest evidence that Huawei is recovering from a series of US sanctions since 2019 that have cut it off from many of the world 's most important technologies, such as advanced chips. This has had a strong impact on some of Huawei's businesses.

“After years of hard work, we have weathered the storm. Now we are back on track,” Ken Hu said in the message, thanking Huawei’s supply chain partners and employees for “working together to overcome difficulties and never giving up.”

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

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

As of the end of September, Huawei ranked fifth in terms of market share in China, increasing its market share from 10% in the first quarter to 14% in the third quarter. In contrast, Apple saw its market share decline from 20% to 15%.

Huawei's smartphone shipments rose 83% in October from a year earlier, helping China's smartphone market grow 11%, according to Counterpoint Research.

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

Huawei was once the world's largest smartphone maker, but lost that position after being hit with US sanctions in recent years. US officials say Huawei poses a national security threat and that China could use its equipment for spying. Huawei has so far denied the allegations and is working to improve its standing in Washington.

This year, Huawei seems to have found a way back to its glory days. In March, it said it had “escaped the crisis” and noted progress in finding replacement parts for products affected by the sanctions.

However, Huawei also acknowledged that it is facing many major challenges. " Geopolitical and economic fluctuations will arise, and technological and trade barriers will continue to impact the world," Hu predicted.

To address these challenges, Hu said they will focus on increasing business efficiency. This includes "simplifying headquarters, reducing management regulations, ensuring consistent policies and being ready to adjust when necessary."

Ha Thu (according to Reuters, CNN)

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