Huawei expects 9% revenue boost in 2023: Reuters
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The news: Huawei is forecasting solid revenue growth in 2023, in a sign the Chinese tech giant is rebounding from almost half a decade of US technology sanctions, Reuters reports.
The numbers: According to a note from Huawei chair Ken Hu, seen by Reuters, Huawei is expecting to post annual revenue exceeding 700 billion yuan ($144.3 billion) for 2023, a 9% year-on-year uplift. It reported revenues of 642.3 billion yuan in 2022.
The context: Huawei has remained competitive despite US technology restrictions launched from 2019 that restricted access to advanced chips and other technologies. This year Huawei launched its Mate60 series smartphone, believed to feature a domestically developed chipset.
The source: Reuters
