Huawei Earnings Soar
Novina Putri Bestari, CNBC Indonesia
Tech
Friday, 12/29/2023 20:40 WIB
Photo: U.S. President Joe Biden delivers remarks on funding for Ukraine from the Roosevelt Room of the White House, Wednesday, December 6, 2023, in Washington. (AP/Evan Vucci)
Jakarta, CNBC Indonesia – Huawei’s revenue will soar during 2023, supported by cellphone sales. Huawei’s success seems to be proof of the failure of the Joe Biden government’s actions to block China’s access to advanced technology belonging to United States companies.
Huawei recorded large profits during 2023. It is estimated that the Chinese technology giant’s revenue will reach more than 700 billion yuan or IDR 1,530 trillion.
The estimate was reported by Reuters which quoted an internal message from Huawei commissioner Ken Hu. With this revenue, Huawei pocketed 9% growth from 642.3 billion yuan (Rp. 1,400 trillion) last year.
Ken Hu says Huawei has weathered the storm. Now the company is getting a blessing after the big problems that hindered it.
It is known that Huawei’s business was in ruins after it was blacklisted by the United States (US) in 2019. These sanctions meant that the company only had limited access to global technology and ultimately paralyzed a number of its business lines.
“Thank you to our partners throughout the supply chain who supported us through the ups and downs. And I also want to thank the Huawei team members who fought hard and never gave up,” he said, quoted from Reuters, Friday (29/12/2023).
“After years of hard work, we managed to weather the storm. Now we are back on the right track,” added Ken Hu.
In this year’s performance forecast, Ken Hu said the device business segment included smartphone which has better performance. It seems that this is due to the presence of the Mate 60 last August.
The Mate 60 arrived by surprise and marked Huawei’s return to the market smartphone after sanctions by the US government now led by President Joe Biden. The cellphone is reportedly powered by a sophisticated chipset developed by a Chinese company.
Reportedly, the development of this advanced chip is fully supported by the Chinese government and President Xi Jinping.
This October, Huawei cellphone shipments jumped 83% year-on-year. Counterpoint reported that this achievement boosted China’s market growth by 11%.
Next year Huawei will also focus on the device business. But the company admits it will face other challenges in the future.
“Geopolitical and economic uncertainty abounds, and technological restrictions and trade barriers continue to impact the world,” said Ken Hu.
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