Chinese mobile phone brand Huawei has revealed it is “back on track” thanks to a strong ending to 2023.

In a new year message written before 2024, Huawei’s Rotating Chairman, Ken Hu claimed the firm’s devices, ICT and cloud divisions performed well last year and expected revenues of 700 billion yuan ($98 billion), compared with 642 billion yuan ($90 billion).

Subscribe to Mobile Marketing Magazine

Click here to get the latest marketing news free in your inbox every Thursday

As a result, he credited the company’s performance to “years of hard work” to “weather the storm”, as it targets “steady and long-term growth” this year.

He said: “Now we’re pretty much back on track. In 2023, we expect to wrap up the year with over 700 billion yuan in revenue.

“Our ICT infrastructure business has remained solid, and results from our device business surpassed expectations. Both our digital power and cloud businesses are growing steadily, and our intelligent automotive solutions have become significantly more competitive.”

Looking forward, Hu revealed Huawei’s cloud business should aim to be “the company’s digital backbone” as he cited an opportunity to facilitate the digital transformation of the industry.

He added: “Our carrier business needs to more effectively support the business success of our customers by helping them boost data traffic, innovate new services, and drive network evolution.”