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Huawei says business ‘back on track’ despite U.S. crackdown

TAIPEI — Embattled Chinese tech company Huawei Technologies said its business is “pretty much back on track” despite a U.S. crackdown, with revenue in 2023 hitting its highest level since 2020.

In the company’s year-end message, rotating chairman Ken Hu said the company “managed to weather the storm,” with revenue reaching more than 700 billion yuan ($98.49 billion) in 2023, up more than 9% from 2022. Washington first blacklisted Huawei in 2019 and further tightened export controls on the company in 2020, flagging it as a national security risk, which Huawei has consistently denied.

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