The figure indicates around 9% year-over-year revenue growth
from the 642.3 billion yuan reported in 2022.
The forecast offers further evidence that Huawei is
rebounding after U.S. sanctions starting in 2019 crippled some of its business
lines by restricting access to critical global technologies such as advanced
chips.
"Thanks to our partners across the value chain for
standing with us through thick and thin. And I'd also like to thank every
member of the Huawei team for embracing the struggle – for never giving
up," Hu said.
"After years of hard work, we've managed to weather the
storm. And now we're pretty much back on track."
In the message sent to staff, Hu said Huawei's device
business segment, which includes its smartphone business, had performed better
than expected in 2023.
In a surprising move in August, Huawei launched its Mate60
series of smartphones, which are believed to be powered by a domestically
developed chipset. The release was widely viewed as marking Huawei's comeback
into the high-end smartphone market after years of struggling under U.S.
sanctions.
Huawei's smartphone shipments surged 83% in October
year-on-year, helping the overall Chinese smartphone market to grow 11% over
the same period, according to Counterpoint.
Looking ahead to 2024, Huawei said in the letter the device
business would be one of the major business lines it would focus on for
expansion.
"Our device business needs to double down on its
commitment to developing best-in-class products and building a high-end brand
with a human touch," the letter said.
Still, Huawei acknowledged in the letter that it faces
significant challenges.
"Geopolitical and economic uncertainties abound, while
technology restrictions and trade barriers continue to have an impact on the
world," Hu noted.
To tackle these challenges, Hu said Huawei would focus on strengthening the efficiency of its business operations. This included initiatives to "streamline HQ, simplify management, and ensure consistent policy, while making adjustments where needed. -Reuters
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