Huawei Expects $98.5BN Sales in 2023, Defying US Sanctions

Success attributed to the release of its 5G smartphone and development of its own chip technology, despite ongoing geopolitical and economic uncertainties.

• Huawei Technologies Co. expects to surpass $98.5 billion in sales revenue in 2023, marking a 9% increase from the previous year.
• The company's success is attributed to the release of its 5G smartphone, the Mate 60 Pro, which sold nearly 1.5 million units in the first month.
• Huawei's sales growth comes despite ongoing US sanctions and competition from Apple in China.
• The company has managed to develop its own cutting-edge chip technology, reducing its reliance on US suppliers.
• Huawei acknowledges 'serious challenges' ahead due to geopolitical and economic uncertainties, and plans to expand investment in emerging technologies like AI.

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