Huawei Technologies expects its revenue to reach 700 billion yuan (99.1 billion US dollars) in 2023, after a strong comeback in the smartphone business with the Mate 60 series and positive results in diversified revenue sources.

This will mark a 9% year-on-year increase for Huawei from RMB 642.3 billion in 2022, marking Huawei's successful escape from long-term restrictions imposed by the US government in the past four years.

Huawei's rotating chairman Hu Houkun said on Friday, "After years of hard work, we have overcome this storm. Now we are basically back on track."

Hu added, "Our information and communication technology infrastructure business (including base stations) has remained stable, while the performance of our equipment business (including smartphones) has exceeded expectations. Our digital power and cloud businesses are steadily growing, and the competitiveness of our smart car solutions has significantly increased.".

Hu said that hard work has enabled Huawei to survive and develop, but Huawei still faces serious challenges. "Geopolitical and economic uncertainties abound, and technological restrictions and trade barriers continue to have an impact on the world. These forces are collectively reshaping business models and global value chains."

No matter what changes we see in the external environment, we firmly believe that digitization, intelligence, and low-carbon transformation will continue to be the main global development trends. We need to maintain strategic focus, fully utilize the collective advantages, innovation capabilities, and grasp of complex software and hardware platforms of our business portfolio, Hu added.