Embattled Chinese electronics giant Huawei showed a cautious optimism regarding its future as the slide in business due to US sanctions started to abate, reports the Financial Times. The company’s total revenue for 2021 was predicted to reach RMB 634 billion ($99.5 billion), the company said on Friday, representing a 29% fall year-on-year, but a minor improvement on the third quarter, when revenues were 38% lower than a year earlier.
“2022 will come with its fair share of challenges, but we will keep working closely with our global partners to overcome the difficulties we face, improve business performance and strengthen our foundations,” said Guo Ping, the company’s rotating chair, in a new year’s message.
The past 12 months marked Huawei’s first calendar year since the US imposed a full range of export controls intended to deny the company access to essential technology and component supplies.