2022 has been a year of rebound and the Chinese tech giant, Huawei is expecting a positive number in revenue on an overall scale.
Reuters reports that Huawei expects that its revenue for 2022 will reach 636.9 billion yuan ($91.53 billion). This marks a 0.4 percent increase in revenue that the company posted last year.
The announcement is made by Huawei’s current rotating chairman, Eric Xu in an internal letter. He mentioned that this year is a year in which, Huawei will gradually move away from wartime situations to safety. As the company has been continuously attacked by the U.S. administration for over the past two years.
He also stated that Huawei will gradually turn the crisis into an opportunity. 2023 is the first year for Huawei to conduct operations normally and it’s a critical year for growth.
The expectation includes better results in the ICT business, cloud business, and smart car business.
In the first three quarters of 2022, Huawei achieved sales revenue of 445.8 billion yuan with a year-on decline of 2.19 percent and a business profile margin of 6.1 percent.
Back in 2021, Huawei’s overall operating was stable with global sales revenue touching 636.8 billion yuan and a net profit of 113.7 billion yuan. It shows a year-on-year decline of 75.7 percent.
For the future, Huawei is climbing R&D investment, in 2021, Huawei’s R&D investment reached 142.7 billion yuan accounting for 22.4 percent of the annual revenue. It’s a big part of the income that Huawei spends on innovation.
While for the next 10 years, Huawei is projected to exceed 845 billion. This will be used to expand Huawei’s research capabilities in various businesses across the portfolio.
In terms of revenue, the operator business was 281.5 billion yuan, accounting for 44.2% of total revenue. While overseas revenue accounted for more than 50%.
The enterprise business was 102.4 billion yuan, accounting for 16.1% of total revenue, and emerging business revenue increased by 30%.
On the flip side, the consumer business was 243.4 billion yuan, accounting a 38.2% of the total revenue, and the revenue of smart wearables and TVs increased by 30%.