Daisy Watts
Dec 30, 2023
Huawei, the Chinese tech giant, anticipates exceeding $98.5 billion (700 billion yuan) in sales revenue for the current year, as revealed in the company's New Year message.
This forecast reflects a notable 9% surge in sales, suggesting that despite US sanctions and fierce competition from Apple within China, Huawei remains resilient.
While the sales figures remain 20% lower than the company's peak of $136.7 billion (891 billion yuan) in 2020, Ken Hu, the rotating chairman, expressed optimism about the company's trajectory.
"After persistent efforts, we have successfully navigated the challenges, and now, we're regaining our momentum," Hu stated. "Our collective determination has empowered us to overcome obstacles and advance together."
Huawei has been embroiled in escalating tensions between the US and China, with Washington alleging close ties between the company and the Chinese military and government.
In 2019, the Trump administration imposed sanctions restricting Huawei's access to advanced Western chipmaking equipment without official approval. At that time, approximately one-third of Huawei's suppliers were American, and the company heavily relied on the US for high-performance computer chips.
However, Huawei demonstrated its capability this year by independently developing cutting-edge chip technology, notably showcased in the Mate 60 Pro smartphone.
Released during the US commerce secretary's visit to China and preceding the iPhone 15 launch, the Mate 60 garnered almost 1.5 million sales in its initial month, doubling the figures achieved by its predecessor. In China, the smartphone received acclaim as a credible, domestically produced alternative to the iPhone.
Additionally, Huawei benefitted from the Chinese government's initiatives to reduce reliance on Western technology, reportedly causing a dip of up to 6% in Apple's sales, according to Bloomberg.
