Huawei said it was “out of crisis mode” as it posted a small increase in annual revenue, adding it was making headway with replacing components affected by sanctions.
Browsing: Eric Xu
Huawei Technologies has developed software tools capable of designing chips as advanced as 14 nanometres.
Huawei estimated on Friday that its 2022 revenue remained flat, suggesting its sales decline due to US sanctions had come to a halt.
Huawei saw its revenue drop by almost a third in the first half of 2021, with US sanctions hobbling its once-dominant handset business and new business areas still in their early stages.
Huawei founder Ren Zhengfei has called on the company’s staff to “dare to lead the world” in software as the company seeks growth beyond the hardware operations that US sanctions have crippled.
China’s Huawei is making business resilience its top priority with a push to develop its software capabilities as it seeks to overcome US restrictions that have devastated its smartphone business.
Huawei Technologies will overhaul its management ranks after revenue growth slowed in the latter half of 2019, when US sanctions spooked customers and suppliers around the globe.
Huawei Technologies expects US export restrictions to reduce annual revenue at its consumer devices business by about $10-billion.
One of Huawei’s most senior executives has accused the US of a “geopolitical campaign” against the company in an attempt to gain leverage in trade negotiations with China.
Huawei Technologies has lately become a prominent target for US factions seeking to raise alarms over alleged Chinese espionage and technology theft. Now Huawei’s striking back. Eric Xu, the company’s current