Huawei earns $100 billion in 2023

The Chinese technology giant “Huawei” expects revenues of about 100 billion dollars in 2023, in a sign of restoring the growth path and overcoming the crises caused by the US sanctions it faced.

Huawei announced on Friday that it had managed to “weather the storm” of US sanctions, with its revenue rising by almost 9% in 2023, during which it launched a smartphone that made Washington question the effectiveness of restrictions.

“Huawei,” based in Shenzhen (south), has been at the center of intense technological competition between China and the United States with Washington warning that the Chinese company’s equipment may be used for espionage purposes for the Chinese government, which the group denies.

The US sanctions imposed by Washington on the company since 2019 have deprived” Huawei ” of access to American-made components and technologies, forcing it to diversify its sources.

“After years of hard work, we were able to weather the storm,”the company’s periodic president Ken Ho said in New Year’s remarks on Friday.

He added that in 2023, the group expects its revenue to reach more than 700 billion yuan (99.2 billion dollars), an increase of almost 9% from last year.

But it remains well below the 891,4 billion yuan achieved by the group in 2020, the year before the company announced a sharp decline in sales due to US sanctions.

However, the company seems to be recovering as it announced moderate sales growth for the first nine months of the year in October.