After a challenging few years following the pandemic and its long-lasting effects, Huawei says it had a pretty successful 2023, with expected sales revenue hitting more than 700 billion yuan (over $98 billion).
Though the figure sits below pre-pandemic levels, Huawei chair Hu Houkun credits this latest result to strong performance across the company’s terminal business, digital energy and cloud business, and smart car solutions.
However, in his new year speech, Hu noted that the company’s ICT infrastructure business was merely “stable,” hinting that datacenter infrastructure could see a lot of investment this year.
Huawei’s chair plans out 2024
As reported by The Register, Hu summarizes a few global projects that have proven profitable for the company, and important for the communities they served. The message also acknowledges the important role of those customers, as well as industry partners and the firm’s employees’ “hard work.”
Setting out his plan for the company’s future, Hu alludes to digitalization, intelligence, and carbon reduction.
Speaking specifically about the surge in AI over the past 12 months, Hu said: “Large models require large computing power. We must build the world’s leading computing power base to prosper thousands of industries.”
Huawei isn’t free of troubles, though. Like any other business, it too is facing tough economic pressures. Hu said that the company will continue to streamline, simplify management, and optimize appropriately.
Reporting of layoffs affecting the company isn’t as complete as other businesses operating across the US and Europe, however an article from Hindu Businessline revealed thousands of job losses at the end of 2022, and it’s likely the company might have reduced its headcount in other regions, too.
Moving forward, Hu’s parting message echoes the title of the New Year’s Speech, “Keep your feet on the ground and move forward steadily.” He said (roughly translated with Google Translate): “People need precipitation and accumulation in order to become stronger.”
Clearly, even giants like Huawei aren’t immune from the pressures facing business across the world, but with a ‘slow and steady wins the race’ attitude, Huawei hopes to stay ahead of the curve.