Huawei Technologies, which has significantly reduced smartphone sales outside of China due to US sanctions, is actively expanding its presence in other areas to regain its former economic strength. informed The Associated Press resource. At the same time, Huawei has maintained its status as a leading network equipment maker through sales in China and other markets where Washington has not imposed sanctions on the company.
Huawei is already a major player in the network equipment market “a wealth of knowledge”, said industry analyst Paul Budde. He added that geopolitical factors continue to hamper the Chinese supplier’s expansion of its presence in overseas markets.
So far, the company has formed 20 teams, focusing on cooperation with factories, mines, hospitals, ports, power plants and other industrial customers. Huawei Automotive reportedly has 3,000 employees dedicated to autonomous driving technology, in which the company invested about $2 billion in 2020-2021. Huawei was among the early developers of smart city networks for traffic control and police surveillance.
The Automotive division also supplies components and software for navigation and vehicle control systems to third parties. These components are already used in five models from three Chinese car manufacturers.
Huawei claims that the strategy change is already helping to revive its previous commercial successes. “In 2020 we successfully emerged from the crisis, Eric Xu, Huawei’s rotating chief executive officer, said in a December message to the company’s employees. — US restrictions have now become our new normal and we are back to business as usual.”
According to preliminary estimates, Huawei’s revenue was almost flat last year compared to 2021 at 636.9 billion yuan ($91.6 billion), Xu said. That’s below Huawei’s double-digit revenue growth a decade earlier, but better than the 5.9% decline in the first half of 2022.
The head of the company did not break down the sales by business area. Huawei previously reported that revenue from industrial customers was 102.4 billion yuan ($16.1 billion) in 2021. Sales of smartphones and other devices fell 25.3% year on year to 101.3 billion yuan ($15 billion) in the first half of 2022.