Huawei is currently working on the next generation of mobile network technology called 5.5G. However, the Chinese tech maker said that future smartphone consumers won’t buy new phones without 6G technology.

The latest statement made by Huawei’s Rotating chairman comes after the 2022 annual business report. He said that Huawei will deploy 5.5G around the world somewhere in 2025.

This next-gen network technology will improve the user experience from various perspectives. Also, it will revolutionize the digitalization of all businesses.

6G:

However, the Huawei chief also talked about 6G. Xu explained that no one knows about 6G and currently, it’s just a concept.

Meanwhile, it’s a goal for the industry and Huawei is working with industry partners to define 6G along with its research and development.

The Huawei chief then turned his view on the future of 6G. He told that 6G will be unnecessary in the face of low innovation and then, maybe we can live with 5.5G technology for a long time.

The Huawei chief elaborates that the company still hopes that the future network will arrive otherwise, there will be no growth in the mobile network and as a result, users will not buy new phones without 6G.

He also pointed out the current decline in the smartphone market and that there’s a large space left to be filled with innovation.

“Everyone still hopes that 6G will come, but whether it will come and when it will come, we still have to wait for the answer,” said Xu Zhijun.

For an expected timeline, Mr. Zhijun said that people waiting for 6G will have to wait, as it should come up by 2030. There’s a lot more to know about this new mobile network, as there are many countries that are still struggling with 5G installation.

During the 2022 Annual Business Report, Huawei CFO and Next Rotating Chairwoman, Meng Wanzhou said that Huawei will continue to operate in the hardest difficulties and the company will never give up.

Mrs. Meng will take over Huawei as the rotating chairwoman on April 1st, as it will be her first tenure as Huawei’s top leader. Meng Wanzhou said as long as Huawei continues to struggle, every minute of our time and every effort will not be wasted, we will never give up.

“We may not be able to succeed but we live to death, how can we not be benevolent?”​​​​ she added.

These are pretty strong words from the Huawei leader as she remains optimistic for a bright future.

Results:

Huawei says its operation is now stable and the company has achieved global sales revenue of 642.3 billion yuan, while a net profit of 35.6 billion yuan. From this Huawei’s carrier business, enterprise business, and device business gained sales revenue of 284 billion yuan, 133.2 billion yuan, and 214.5 billion yuan respectively.

In 2022, R&D invested 161.5 billion yuan, accounting for 25.1% of the company’s entire 2022 revenue. On the flip side, the cumulative R&D expenses invested in ten years will exceed 977.3 billion yuan.

During the press note, Xu Zhijun, Huawei’s current rotating chairman, said that 2023 is a critical year for Huawei’s survival and development.

Xu Zhijun said that the upcoming year and the following are critical for Huawei. The key direction of Huawei’s strategy is to create growth opportunities, enhance development resilience, build differentiated advantages, win by quality, and ensure high-quality business continuity and product competitiveness.

He also mentioned that Huawei should seize the opportunities of digitalization in all walks of life to achieve effective growth. Huawei will also get advantages of its industrial portfolio and strong resilience, and strive to build a foundation for the digital economy and promote green and sustainable development.

In the face of challenges, Huawei is working with its partner to overcome difficulties.

Today, Huawei released its 2022 annual report, which shows that Huawei’s overall operations are stable. It shows global sales revenue of 642.3 billion yuan and a net profit of 35.6 billion yuan. In 2022, the R&D investment reached 161.5 billion RMB, accounting for 25.1% of the annual revenue. The accumulated R&D expenditure in ten years will exceed 977.3 billion RMB.

“Looking back on 2022, the severe external environment and non-market factors continue to affect the company’s operations. In the midst of the storm, we continue to run and strive to ensure business continuity and ensure support and services for customers. We also worked hard to harvest more food so that I could not only survive but also lay a foundation for future development.” said Rotating chairman Xu Zhijun said

Chief Financial Officer Meng Wanzhou said: “In 2022, operations still face greater pressure. Overall, operating performance is in line with expectations. At the end of 2022, Huawei’s asset-liability ratio was 58.9%, and its net cash balance was 176.3 billion yuan, nearly one trillion yuan. In the scale of total assets, high-liquidity assets such as cash, short-term investment, and operating assets constitute the main part of the assets. The financial situation continues to be stable and has strong resilience and flexibility. In 2022, the total R&D expenses accounted 161.5 billion yuan, and R&D The expense ratio is 25.1%, which is at a historically high level. Facing the future, we are under pressure and more confident!”

In 2022, Huawei achieved sales revenue of 284 billion yuan in the operator business field. 133.2 billion yuan in sales revenue from Huawei’s enterprise business and 214.5 billion yuan in sales revenue from the smart devices business.

Xu Zhijun emphasized: “2023 is a critical year for Huawei’s survival and development. Today’s Huawei is like a plum blossom. Opportunities, industrial portfolio resilience, differentiated advantages, the trust of customers and partners, and the courage to invest aggressively. Therefore, we are confident to overcome difficulties and achieve sustainable survival and development.”