Wednesday, February 8, 2023
- Advertisment -
HomeNewsDespite flat income, Huawei claims to be out of crisis mode

Despite flat income, Huawei claims to be out of crisis mode

Despite the fact that the Chinese technology firm Huawei’s revenue for 2022 did not increase from the previous year, it claims to have exited “crisis mode” after years of U.S. restrictions that hindered its international sales.

Since then-U.S. President Donald Trump restricted Huawei Technologies Ltd.’s access to American processor chips and other technology in 2019 on the grounds that Huawei could aid Chinese espionage, the Chinese tech company has suffered.

The current chairman of Huawei, Eric Xu, declared in a New Year’s address distributed on Friday that “U.S. restrictions are now our new normal” and that “business as usual” had resumed.

Accusations that Huawei would pose a security danger are denied.

In the letter, Xu noted that the company’s telecom network business continued to see “steady growth” and that a fall in its devices sector, which primarily consisted of phones, had subsided.

Unaudited revenue for Huawei is anticipated to reach 636.9 billion yuan ($91.6 billion) in 2022, which is roughly unchanged from the prior year and in line with past projections.

He added that the company’s cloud business had “rapid expansion.”

More specific financial information about Huawei’s companies or the company’s overall profit was not provided.

Xu promised to continue Huawei’s significant investment in R&D for the upcoming year and stated that the company’s cloud business needed to become the “basis” for fostering growth. He made only cursory reference to the epidemic while complimenting the company’s “frontline workers outside of China — those who have held the fort to service our clients despite the negative repercussions of COVID-19.”

The recent abrupt halt to strict virus controls or the significant coronavirus epidemics currently sweeping China and other nations were not mentioned in Xu’s speech.

News Summary:

  • Despite flat income, Huawei claims to be out of crisis mode
  • Check all news and articles from the latest Business news updates.
Ronak Bhatiya
Ronak Bhatiya
Ronak Bhatiya is a well-known editor at BollyInside.com, a leading online platform that provides in-depth coverage of Technology and its news media industry. With a strong passion for tech and business, Ronak has established himself as a valuable asset to the team, bringing his expertise and knowledge to the site's readers. With over a decade of experience in the news and tech and business articles field, Ronak has a keen eye for detail and a deep understanding of what makes a good story. He has a natural talent for writing, and his articles and editorials are always insightful, thought-provoking, and well-researched.
RELATED ARTICLES

Latest

- Advertisment -