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Huawei expects 9% revenue growth in 2023 – Reuters By Investing.com

Huawei expects 9% revenue growth in 2023 – Reuters By Investing.com


© Reuters. Huawei expects 9% revenue growth in 2023 – Reuters

According to Reuters, Huawei plans to report revenue above 700 billion yuan ($98.5 billion) for 2023.

The publication says the company’s rotating chairman, Ken Hu, revealed the number in an internal New Year’s message, which he saw. This represents a growth of around 9% compared to last year, which amounted to 642.3 billion yuan.

Reuters revealed that Hu thanked the company’s partners across the value chain and members of his own team “for embracing the struggle – for never giving up.”

US sanctions that began in 2019 have had a significant impact on the company, restricting access to vital global technologies. Hu reportedly added that the company had managed to weather the storm and was now “pretty much on track.”

Huawei’s devices business segment, which includes its smartphone business, performed better than expected in 2023, according to Hu. The company launched its Mate60 series of smartphones in August, which sparked a lot of hype. This was seen as Huawei’s re-entry into the high-end smartphone market.

In 2024, Reuters said Huawei said its devices business would be one of the business areas it would aim to expand, although it acknowledged that various challenges, such as geopolitical and economic uncertainties, could still pose a problem.



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