Revenue of Huawei Technologies company at the end of the year will be 636.9 billion yuans ($91.5 billion). The company earned almost the same amount in 2021. In this regard, in a final address to employees of Huawei Technologies, Chairman of the Board of Directors Eric Xu noted that the company has emerged from the “crisis mode” of work caused by the introduction of US sanctions. “The restrictions imposed by the United States have become our new normal, we have returned to work as usual,” he said. It is reported by The Wall Street Journal.
As a private company, Huawei Technologies does not publish detailed financial statements. However, in his address, the head of the company also said that at the end of the year, the indicators of the business for the production of telecommunications equipment increased, and the situation in the once main division of consumer electronics stabilized. From the company’s previous releases, it can be seen that revenue, after falling in the first half of the year, began to strengthen in the past six months. Thus, in the third quarter, the growth of this indicator was 6.5% compared to the same period in 2021, and in the fourth quarter, the growth was 5.5%. True, annual sales do not reach the record levels of 2020, when they exceeded $120 billion.
Sanctions against Huawei were introduced by the Donald Trump administration in May 2019. The US accuses the manufacturer of having close ties to the People’s Liberation Army of China. The sanctions prevent US and foreign companies from supplying US technology to Huawei. Now the problems of the Chinese manufacturer are exacerbated by the impact of the pandemic, and disruptions in supply chains. In addition, in October, the US Federal Communications Commission (FCC) imposed a ban on the import and sale of Huawei telecommunications equipment, arguing that it posed an “unacceptable risk” to national security.