Chinese tech giant Huawei expects 2022 revenue at 636.9b yuan

SHENZHEN -- Chinese tech giant Huawei expects its revenue for 2022 to reach 636.9 billion yuan ($91.59 billion), according to the company's rotating chairman Eric Xu.

The performance was in line with the forecast, Xu said in the company's annual New Year's message Friday.

Over the past year, Huawei's ICT infrastructure business maintained steady growth, and the decline in device business has abated. It achieved rapid growth in digital power and Huawei Cloud, and took the competitiveness and user experience of intelligent automotive components to new heights, Xu said.

"In 2022, we successfully pulled ourselves out of crisis mode. The US restrictions are now our new normal, and we're back to business as usual," Xu said.

In 2021, Huawei brought in revenue of 636.8 billion yuan, a plunge from 891.4 billion yuan in 2020. Its R&D investment reached 142.7 billion yuan in 2021, accounting for 22.4 percent of its annual revenue.

Xu said that digitalization and decarbonization are the way forward, and this is where future opportunities lie. Next year, the Shenzhen-headquartered company will continue to strengthen its R&D investment and make its products and solutions more competitive through innovation, reshaping architecture, and systems engineering design.