Huawei Anticipates Growth in Digital Energy and Smart Vehicle Solutions

By Consultants Review Team Wednesday, 03 January 2024

According to rotating chairman Hu Houkun, Chinese telecoms giant Huawei is eyeing growth in 2024 for its emerging business areas such as digital energy and smart vehicle solutions. Hu stated in a year-end memo that the company anticipates sales to exceed 700 billion yuan ($103 billion) in 2023. While its primary ICT infrastructure business "will remain robust," the firm's digital energy and smart car solutions are gaining traction.

"The competitiveness of smart car solutions will increase significantly," he stated. "Digital energy should continuously improve product quality and competitiveness, seize low-carbon certainty opportunities, contribute more profits, and achieve valuable growth."

He credits Huawei's sustained resilience in the face of US trade restrictions to its people toiling on the front lines to maintain crucial infrastructure operations. Hu highlights workers in China risking typhoons to repair communications networks and pushing through delayed supplies to complete projects on time for customers in Asia, Africa, and South America. However, the chairman concedes that "the challenges are still severe" as the year begins in an uncertain geopolitical and economic environment. 

"No matter how the external environment changes, we firmly believe that digitisation, intelligibility, and low carbonation are the most definite development trends," he says. 

Huawei's cloud services unit is critical to realizing the digital transformation of sectors, and the company is investing more in developing larger AI models and the infrastructure needed to run them. The Chinese company is also putting resources towards fundamental information and communications technology such as computing, storage, and networking, where it has an advantage over competitors.

As part of an ongoing restructuring, Huawei is delegating more power to individual business units so that they can tailor plans to their clients and markets. Greater autonomy is intended to facilitate faster decision-making.

According to Hu, Huawei prioritizes compliance as well as privacy measures in the face of rising data requirements. According to Hu, the corporation will continue to communicate pragmatically with stakeholders worldwide.


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