Chinese telecom equipment company Huawei said today that it is refocusing its efforts on software as part of a strategic reform aimed at countering the impact of US sanctions.
The company explained that it is investing more in companies that rely less on advanced process technologies, citing US sanctions that have limited their access to advanced semiconductors.
Huawei’s rotating chairman said, (Eric Shaw) Eric XuAt the top of the company’s analysts: The company does not expect to be removed from the list of American entities, which were used to limit the flow of American technology and products to Huawei, under the administration of US President Joe Biden.
Speaking to analysts, Shaw said the company is investing more in autonomous vehicle components in an effort to boost business flexibility. Investment in smart leadership business surpassed $ 1 billion this year, and Huawei’s global penetration of 5G communications networks exceeded expectations.
He added: We find ourselves in a complex and volatile global environment, and the resurgence of the Coronavirus and geopolitical uncertainty are constant challenges for every organization, work and country, and we strongly believe in the power of digital technology to provide new solutions to the problems we all face, so we continue to innovate and push digital transformation with our customers and partners to bring digitization. Every person, home and organization for a fully connected, smart world.
Huawei was blacklisted for export by former US President Donald Trump in 2019, preventing it from accessing critical technology of American origin, affecting its ability to design its chips and sourcing components from outside vendors.
Huawei’s revenue growth slowed significantly last year after the smartphone business was hit by the US campaign and the impact of the pandemic.
In the press release, Xu said: The company could focus this year on forming a clear strategy after the impact of last year’s sanctions, which he explained that led some Chinese companies to store large quantities of semiconductors sufficient for a period of three to six months, This was the main reason for the global chip shortage.