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| Huawei is back with sales near $100 billion in 2023 | Photo: Reuters |
In 2023, Chinese tech giant Huawei bounced back strongly, despite the company being the biggest casualty of the US-China trade war.
The Shenzhen-based company in China reported last Friday that they had 99 billion dollars in revenue in 2023. The company achieved 9 percent revenue growth in 2023 mainly due to unexpected sales of its electronics products.
In 2019, Huawei generated revenue of 123 billion dollars, which means that they have not yet reached the previous level.
In a message to employees at the end of the year, Huawei Chairman Ken Hu said, 'After several years of hard work, we are able to face the difficult situation; We have very much returned to the mainstream of business.'
In August 2023, Huawei launched a smartphone named Mate 60 Pro. This smartphone literally conquers the market. People involved in this sector were surprised after this advanced technology smartphone came to the market. Despite the US ban on the export of advanced technology to China, one wonders how Huawei could make such advanced phones.
According to Counterpoint Research, Huawei has managed to reduce Apple's market share in the Chinese market in one fell swoop with this phone. At the end of September, that is, at the end of the third quarter of the year, Huawei's share in the Chinese market rose to 14 percent; It was 10 percent in the first quarter of the year. At the same time, Apple's share of the smartphone market has dropped from 20 percent to 15 percent.
Huawei chairman Ken Hu said the phone's business exceeded expectations, but he did not elaborate.
Until the start of the US-China trade war in 2018, Huawei was ranked second in the global smartphone market. But after the start of the trade war, the company suffered a lot when the US banned technology exports to China.
US policymakers have long claimed that Huawei poses a threat to their national security. They allege that the Chinese government can use this company's equipment to carry out intelligence operations in the United States. Huawei has always denied the allegations and has tried to improve relations with Washington.
Since the beginning of 2023, Huawei has been saying that they are no longer in crisis. Rather, they got an alternative to the technologies and materials that the United States banned them from exporting.
Huawei Mate 60 Pro uses an advanced chip called Kirin Chips. According to Counterpoint's analysis, Huawei will be able to increase the production of this phone by increasing the production of this chip this year.
Analysts said that Huawei is bringing another mid-range smartphone named Nova to the market last Tuesday. As the price of this phone is relatively low, it is expected to gain popularity in the market.
Huawei Chairman Ken Hu also said, 'We have survived because of hard work, but we still have many tough challenges ahead of us. Trade will be affected due to geopolitical and economic uncertainty along with technical restrictions and trade barriers.'