How is Huawei Developing? Huawei has faced numerous difficulties and crises when the U.S. government placed it on the blacklist, imposing sanctions. However, the technology giant has now overcome these challenges and achieved impressive success.
In May 2019, Huawei was blacklisted by the U.S. government, prohibiting any transactions with U.S. companies without government approval. By May 2020, the U.S. Department of Commerce extended the ban on Huawei, adding provisions restricting Huawei from buying chips from U.S. companies and companies using U.S. software and technology.
At the end of 2020, the U.S. government partially lifted the ban on Huawei, allowing the Chinese technology company to buy chips from U.S. companies but prohibiting the purchase and use of 5G chips. This led to Huawei’s recent high-end smartphones lacking 5G connectivity and not being equipped with the Android platform. View more: https://smsverificationphone.com/
The U.S. government’s sanctions have caused Huawei to face difficulties and enter a crisis. There were times when Huawei struggled to survive.
Rotating Chairman of Huawei, Eric Xu, believes that the “company’s survival battle” is not yet over, even though Huawei has achieved unexpected success in 2023 (Photo: Getty).
However, Huawei continues to invest in its strengths, such as providing telecommunications equipment, 5G network technology, smartphones, and even expanding into the electric vehicle sector. This has helped the technology giant overcome challenging times and achieve growth beyond many people’s predictions.
In March 2023, Huawei announced that the company had “escaped the crisis” and found alternative components for the items banned by the U.S. government.
In a New Year message to the company’s employees, Huawei’s rotating Chairman, Eric Xu, revealed that the company’s estimated revenue for 2023 would reach 700 billion Chinese yuan (equivalent to 99 billion USD), a 9% increase from the 642.3 billion yuan (92.4 billion USD) achieved in 2022.
Although the 2023 revenue is still lower than the 123 billion USD Huawei achieved in 2019, before the sanctions, it exceeds the expectations of Huawei’s leadership and market analysts. This indicates that Huawei has gradually overcome the challenging period due to the impacts of the U.S. government’s sanctions.
Chairman Eric Xu himself acknowledged that Huawei had achieved success beyond expectations in 2023.
“After years of hard work, we have weathered the storm. Now, we are almost on the right track,” Chairman Eric Xu shared in a message to the company’s employees.
A significant contribution to Huawei’s success in 2023 comes from smartphone sales. In 2023, Huawei returned to the top 5 largest smartphone manufacturers in the Chinese market after a 2-year absence. In the fourth quarter of 2023 alone, Huawei’s smartphone sales increased by 36% compared to the same period last year, capturing a 13.9% market share in the Chinese smartphone market.
Market analysts predict that Huawei’s smartphone sales will continue to grow in the coming time as the company releases mid-range smartphones in various markets instead of focusing solely on the domestic market. View more: sms verification phone.
Despite achieving success and gradually recovering from the crisis, Huawei’s Chairman Eric Xu believes that the “company’s survival battle is not yet over.”
“Hard work has helped us survive and develop, but there are still serious challenges ahead. Political and economic uncertainties are still prevalent, while technology limitations and trade barriers continue to impact the world,” Mr. Eric Xu shared.
Huawei’s Chairman stated that in 2024, the company will leverage its strengths in areas such as computing, cloud storage, and telecommunications to maximize revenue growth and create more value.
