Huawei Expects $92B in Revenue in 2022, Same as the Previous Year

On December 30, Eric Xu, the rotating chairman of Huawei, predicted in his New Year speech that Huawei would achieve an annual revenue of 636.9 billion yuan ($92 billion),which is in line with forecasts. By comparison, Huawei’s revenue in 2021 was 636.8 billion yuan.

The speech mentioned the performance of Huawei’s various businesses in 2022. Among them, its ICT infrastructure business maintained steady growth, and the decline in the company’s device business has abated. On the upshot, the company achieved rapid growth in its digital power and cloud business, and took the competitiveness and user experience of its intelligent automotive components to new heights.

“In 2022, we successfully pulled ourselves out of crisis mode. US restrictions are now our new normal, and we’re back to business as usual. 2023 will be the first year that we return to business as usual with external restrictions still in place. It will be a crucial year for us. Forge ahead and rise above the challenges that come our way. Let’s put in the work to carve out our long-term, sustainable survival,” said Xu.

Huawei has gained a lot in 2022. While the overall situation of 5G chips is still unclear, Huawei is focusing on developing the HarmonyOS. Official data shows that the HarmonyOS has been installed on over 320 million devices this year, an increase of 113% compared with the same period last year. Huawei’s high-end mobile phone Mate 50 series has returned, and is equipped with Beidou satellite connectivity. In addition, Huawei has launched a new foldable phone named Pocket S.

In the automobile business, Chi Linchun, the President of BU Marketing and Sales and Service Department of Huawei, has previously said that the investment return period in the automobile industry is rather long, which has brought some operating pressures to Huawei’s smart car solution department. In the last three years, Huawei has invested about $3 billion in auto parts research and development, and recruited more than 7,000 R&D personnel.

In terms of its cloud business, IDC has released a report showing that the overall size of China’s public cloud service market (IaaS/PaaS/SaaS) reached $16.58 billion in the first half of 2022. In China’s public cloud IaaS market, Alibaba Cloud ranked first with a market share of 34.5%, and Huawei Cloud ranked second with a market share of 11.6%.

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In order to achieve its business goal in 2023, Xu has said that Huawei needs to do four things – heavily invest in R&D, secure victory through quality, commit to progress and seize opportunities to grow what the company has harvested, and to press ahead with a transformation to inject vitality into the organization and motivate everyone to forge ahead together. In particular, he mentioned that in the device business, all domains need to put the product at the center of everything they do and concentrate resources on developing best-in-class products that truly shine. They need to fulfill their operating responsibilities and strive to increase their input-output ratio. The Intelligent Automotive Solution BU needs to focus on key components, and scale up the commercialization of products to secure business success.

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