The time for double-digit growth is largely over, but Huawei has managed to hold out against all odds. It managed to stabilize its turnover in 2022 despite increasing sanctions from Washington.

The Chinese telecom equipment manufacturer said on Friday, December 30, 2022, that it had stabilized its annual turnover despite American sanctions at 637 billion yuan (86 billion euros) in 2022. The current president of Huawei, Eric Xu, in a New Year's message to employees said: “In 2022, we managed to get out of crisis mode. American restrictions are now our new normal.”

Huawei is facing increasing sanctions from Washington, at the heart of Sino-American tech rivalry and elsewhere in the West. They heavily penalized its business in previous years and led to a drop of 29% in its turnover in 2020. The sanctions against Huawei, attacked by the administration of former President Donald Trump and toughened by the current administration of President Joe Biden, deprive the Chinese group of sensitive American technologies, including cutting-edge components.

According to Eric Xu in a resolutely optimistic speech despite the economic uncertainties linked to the epidemic tsunami sweeping the country, “2023 will be the first year in which we will resume business as usual despite the external restrictions still in place.”