Huawei Expects More Challenges in 2022

2021 brought many challenges for Huawei, mostly due to US trade sanctions. The new year promises more struggle for the Chinese tech company. However, Huawei is already focusing on the positive sides of its business.

Rotating chairman of the company, Guo Ping, noted in an annual internal New Year’s message that the carrier business remained stable and the enterprise segment booked solid growth in 2021. Despite those successes, total revenue is expected to drop 28.9 percent year on year to CNY634 billion (US$99.9 billion).

Guo acknowledged 2022 will come with its fair share of challenges, explaining a changing external environment won’t cause it to alter its ideals or aspirations. “We will continue investing in the future and creating value for our customers and partners. Only through strategic investment can we grow stronger and build a future for ourselves,“ Guo said. He added that the device business expanded swiftly into new business domains in which its ability to secure chip supplies is not restricted.

Tony Jin, the company representative to the EU Institutions, remarked that Huawei ranked as the second-highest private-sector investor in R&D in the world, citing data from the European Commission Industrial R&D Investment Scoreboard 2021. R&D spending in 2020 reached CNY141.9 billion, representing 15.9 percent of total revenue.