Huawei continues to generate revenue via networking equipment division

Huawei has recently hinted that its 2022 revenue remained flat and the company suggests that its sales decline due to U.S. sanctions.

“U.S. restrictions are now our new normal, and we’re back to business as usual,” Xu wrote in the letter that was addressed to staff and released to the media.

According to the information, revenue for the year is expected to be 636.9 billion yuan ($$91.53 billion), according to Xu.

That represents a tiny increase from 2021, when revenue hit 636.8 billion yuan, and marked a 30% year-on-year sales tumble as the U.S. sanctions on the company took effect.

Huawei continues to generate revenue via its networking equipment division, which competes with Nokia (NOKIA.HE) and Ericsson (ERICb.ST). It also operates a cloud computing division.

“The macro environment may be rife with uncertainty, but what we can be certain about is that digitisation and decarbonisation are the way forward, and they’re where future opportunities lie,” said Xu in the letter