Huawei expects to record more than 700 billion yuan sales this year, which converts to about 89.3 billion euros. It would represent year-on-year growth of about 9 per cent.
In recent years, Huawei has faced political sanctions, limiting, for example, Western organizations’ access to the Chinese company’s critical infrastructure technology. That affected Huawei financially, but now the company is on the rise again.
That is according to a New Year’s message from chairman Ken Hu, which assumes sales of more than 700 billion yuan. This represents significant growth from last year when sales were 642.3 billion yuan. Although it is still considerably less than the 858.8 billion yuan from 2019, the company is now recovering from the impact of the sanctions.
“Thanks to our partners across the value chain for standing with us through thick and thin. And I’d also like to thank every member of the Huawei team for embracing the struggle – for never giving up,” Hu’s message said. “After years of hard work, we’ve managed to weather the storm. And now we’re pretty much back on track.”
Smartphones
Huawei’s growth was triggered in part by its smartphone business. In October, the number of smartphones shipped grew 83 per cent year-on-year. In particular, the launch of the Mate 60 line earlier this year was said to contribute to this.
By 2024, Huawei plans to bet on the devices division as one of its activities to achieve further growth.