Huawei has reviewed its own fiscal year 2022 and is satisfied with it. The U.S. sanctions against the Chinese company have now become normal, so they are moving from crisis mode to normal operations, he said.
Huawei: US sanctions are new normal
Despite the pressure from U.S. sanctions, Huawei says it is satisfied with 2022. As reported by Handelsblatt and others, Huawei said its sales were stable at 636.9 billion yuan, after slumping nearly 30 percent the previous year.
“In 2022, we successfully pulled ourselves out of crisis mode,” Huawei’s acting CEO Eric Xu wrote in a New Year’s email to employees. “The U.S. restrictions are now our new normal, and we are back to normal operations,” Xu continued.
That already looks quite different from the message Huawei CEO Ren Zhengfei issued to employees in an internal memo in August 2022. It said that the company was currently fighting only for its own survival and no longer to generate profits. “In 2023 or even by 2025, we must see survival as the main goal,” Zhengei had announced at the time.
Huawei sales are on the rise again
Information and communications technology sales in particular would grow steadily, while at the same time the decline in the equipment business had eased in 2022. he macroeconomic environment was full of uncertainties, but digitalization and decarbonization were the new paths forward where future opportunities lay, Eric Xu added.
In 2019, the US government had imposed far-reaching sanctions on Huawei. For example, the Chinese company was denied access to chips produced internationally and the use of Google’s Android operating system.
The US accuses Huawei of close ties to Chinese authorities and warns of a risk of espionage or sabotage. However, the company has always rejected the accusations. Other Chinese corporations also have to withstand these accusations – TikTok parent Bytedance, on the other hand, had recently even had to admit to espionage against US journalists.
This had a massive impact on the manufacturer’s former core business, the smartphone segment, in particular. Since then, Huawei has tended to focus on other devices and was able to score with strong products here. For example, the high-quality notebook Huawei Matebook 16s (our review) or the noble in-ear headphones FreeBuds Pro 2 (our review).