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Huawei plans to grow 9% this year to 89.4 billion euros

The Chinese technology manufacturer records its highest revenue figure in three years.

Huawei expects to close 2023 with its best revenue figure in three years. The Chinese manufacturer, which has suffered in recent years the consequences of the trade veto imposed by the United States, plans to increase its turnover this year by 9% to exceed 700,000 million yuan, around 89,400 million euros at the exchange rate. Huawei has not yet revealed its profit estimate.

“After years of hard work, we have been able to weather the storm. We are back on track,” the company’s president, Ken Hu, said today in an internal statement, in which he underlines that the company has been able “to break the siege”, in clear reference to the sanctions imposed by Washington in 2019. The export controls imposed by the US have prevented Huawei from accessing advanced chips and other technologies.

Huawei is approaching double-digit growth again, but even so, the expected revenue figure is lower than the billing record it achieved in 2020, the year in which it recorded revenue of 891.368 million yuan.

Hu has pointed out that the consumer business, where its smartphone offering is integrated, has exceeded expectations. In fact, the company already reported in August that this business had recovered growth, something that had not happened since 2020.

The company has surprised the market after launching this year a high-end mobile phone, the Mate 60 , with an advanced processor manufactured in China, which has been a sales success in the country. As recently revealed by the Financial Times , Huawei and the manufacturer SMIC, with the support of the Chinese Government, invested large resources in the project to manufacture a cutting-edge processor, circumventing the veto imposed by the US.

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