Huawei projects revenue of $93.5 billion in 2023

According to Ken Hu, Huawei’s Deputy Chairman and Rotating Chairman, in 2023, Huawei could generate CNY 700 billion ($98.5 billion) in revenue. According to a Reuters report, the information was shared during the message for the New Year. If this information is correct, then the company will gain 9% year-over-year growth in revenue. In contrast to this, the company earned CNY 642 billion ($93.5 billion) in revenue last year. Well, this is quite good given the fact that the company is already facing troubles due to US sanctions.

During the New Year’s message, Ken stated that Huawei has weathered the storm with its continuous efforts. The company is finally back on track. Ken shared that Huawei’s device business observed significant growth in 2023. He indicated that the division grew beyond expectations; however, no specifics regarding the expectations were unveiled by him.

The company observed significant profits after the launch of the Mate 60 smartphone series. The Mate 60 series is equipped with the in-house Kirin 9000s chipset and great cutting-edge features. The debut of the Mate 60 series with an in-house processor was quite shocking since nobody expected it, especially from the perspective that the US has imposed sanctions on Huawei. The Mate 60 series offered good competition to the iPhone 15 series.

In the Chinese smartphone market, Huawei is ranked number five. The company grabbed a 14% share of the market in Q3 2023. A marginal difference between the market shares of Apple and Huawei was observed by the end of September. Apple grabbed 15% of the smartphone market share. It seems like things will further improve for Huawei in the future.