The Associated Press reported that Huawei Technologies has been actively expanding its presence elsewhere to regain economic strength after a significant drop in smartphone sales outside of China. Huawei Technologies has also maintained its position as a major network equipment manufacturer by selling in China and other countries where Washington did not impose sanctions.
Huawei is already a major player in the market for network equipment. “A wealth of knowledge”Paul Budde, an industry analyst, stated that this is the case. He stated that geopolitical factors will continue to limit the Chinese vendor’s presence on foreign markets.
The company has so far formed 20 teams to work with factories, power plants, hospitals, ports and other industrial customers. Huawei Automotive claims to have 3,000 employees who are dedicated to autonomous driving technology. In 2020-2021, the company invested $2 billion. Huawei was one the pioneers of smart city networks to control traffic and monitor police officers.
The Automotive division also supplies components, software and hardware for vehicle control systems and navigation to third-parties. These components have been used in five models by three Chinese automakers.
Huawei claims that its strategy has changed and is helping to restore the company’s economic fortunes. “In 2020, we successfully emerged from the crisis, In a December message, Eric Xu (Haiku’s rotating chairman) stated that the company was in the process of restructuring its board. — US restrictions have now become our new normal and we are back to business as usual.”
Xu stated that Huawei’s revenue in 2018 was nearly the same as 2021, at 636.9 million yuan ($91.6billion). This is lower than Huawei’s double-digit revenue growth a decade ago, but higher than the 5.9% drop during the first half 2022.
The company’s head did not give a breakdown by business line. Huawei reported previously that the company’s sales to industrial customers was 102.4 billion Yuan ($16.1 million) in 2021. Smartphone and other device sales fell by 25.3% in the first six months of 2022 to 101.3 million yuan ($15billion) from the previous year.