Huawei Anticipates 9% Revenue Growth in 2023

AFP/APP

Beijing: Huawei said Friday it expected an increase of almost nine percent in its revenue in 2023, despite US sanctions against the Chinese tech giant.

“After years of hard work, we managed to weather the storm,” rotating chairman Ken Hu said in remarks released Friday while adding the firm faces “serious challenges ahead of us.”

Related:https://www.reuters.com/technology/huawei-forecasts-9-revenue-growth-2023-smartphones-surge-2023-12-29/

In 2023, the group expects revenues of more than 700 billion yuan ($99.4 billion), Hu said in a New Year’s message, an increase of nearly nine percent from last year.

The firm released its Mate 60 Pro handset this year, a device powered by an advanced domestically produced chip that sparked debate about whether attempts to curb China’s technological advancements have been effective.