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Huawei says it’s out of “crisis mode,” though revenue remains flat

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HONG KONG (AP) — Chinese tech giant Huawei says it has moved out of “crisis mode” after years of U.S. restrictions that have stifled its overseas sales, even though its 2022 revenue didn’t increase from a year earlier. .

“American restrictions are now our new normal and we are back to normal,” Eric Xu, the current chairman of Huawei, said in a New Year message posted on Friday.

Huawei Technologies Ltd., China’s first global technology brand, has…

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HONG KONG (AP) — Chinese tech giant Huawei says it has moved out of “crisis mode” after years of U.S. restrictions that have stifled its overseas sales, even though its 2022 revenue didn’t increase from a year earlier. .

“American restrictions are now our new normal and we are back to normal,” Eric Xu, the current chairman of Huawei, said in a New Year message posted on Friday.

Huawei Technologies Ltd., China’s first global tech brand, has been in trouble since then-US President Donald Trump blocked its access to US processor chips and other technology in 2019 on the grounds that Huawei could facilitate Chinese espionage.

Huawei denies allegations that it could be a security risk.

Huawei’s unaudited revenue for 2022 is forecast to be 636.9 billion yuan ($91.6 billion), almost unchanged from a year earlier and in line with previous estimates.

Xu said in the message that the company’s telecom network business maintained “steady growth” and that the decline in its device sector, mainly phones, had eased.

He also said the firm achieved “rapid growth” in its cloud business.

Huawei did not release more detailed financial figures for its businesses or the company’s overall earnings.

For the coming year, Xu pledged to maintain Huawei’s heavy investment in research and development, saying its cloud business should become the “base” to drive growth.

He mentioned the pandemic only in passing, praising the company’s “front-line staff outside of China, those who have stood strong to serve our customers despite the adverse impacts of COVID-19…”

Xu’s message made no mention of the recent abrupt end to strict virus controls or the large outbreaks of coronavirus now sweeping through China and other countries.

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