Huawei expects revenue of more than 700 billion yuan ($98.5 billion) in 2023, up 9 percent from last year, according to chairman Ken Hu, quoted by Reuters and Agerpres, thus weathering the storm caused by the sanctions. USA.

“We thank our partners for being with us in a difficult period. And I would like to thank all members of the Huawei team for not giving up the fight. After several years of hard work, we have managed to weather the storm,” said Ken Hu, president of Huawei, in a New Year’s address to the company’s employees on Friday.

In the report, Ken Hu said Huawei’s device division, which includes smartphone operations, delivered better-than-expected results in 2023. However, Ken Hu did not provide a specific figure for net profit or sales of Huawei smartphones, which have grown strongly in recent years. suffered from American sanctions.

In late August, Huawei caused a stir by releasing a series of Mate60 smartphones equipped with a sophisticated Chinese-made processor called Kirin, raising questions about the effectiveness of US sanctions.

US sanctions have affected Huawei’s business since 2019, limiting the Chinese company’s access to vital technologies and components such as advanced chips. US sanctions have forced Huawei to focus on sectors such as software, connected devices or IT for companies.

Huawei refocused on the sale of smartphones and other related industries

Huawei smartphone shipments rose 83% year-on-year in October, helping the Chinese smartphone maker increase its market share by 11%, according to research firm Counterpoint.

Looking ahead to 2024, Huawei’s president says the device division will be one of the main business lines targeted for expansion.

“Our device companies need to step up their efforts to develop the best products,” said the letter, signed by Ken Hu. However, he admits that the Chinese group faces significant challenges.

“Geopolitical and economic uncertainty is rife as technological limitations and trade barriers will continue to affect the world,” Ken Hu said.

The US is trying to convince its allies to ban Huawei equipment from their 5G networks, arguing that Beijing could use Huawei products to monitor the country’s communications and data traffic.

In June, the European Commission assessed that Chinese suppliers of telecommunications equipment, including Huawei, pose a security risk to the European Union.

European Commissioner for Internal Market Thierry Breton called on 27 member states and telecommunications operators to exclude Chinese equipment from their mobile networks.