Page 42 - SAMENA Trends - March-April 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

non-market factors continued to take a our customers. We also went to great open up its platform capabilities across
toll on Huawei's operations", said Eric lengths to grow the harvest – generating its HarmonyOS, Kunpeng, Ascend, and
Xu, Huawei's Rotating Chairman, at the a steady stream of revenue to sustain our cloud portfolio, focusing on improving
company's annual report press conference. survival and lay the groundwork for future developer experience as well as enabling
"In the midst of this storm, we kept racing development." Also present at the event was and supporting its ecosystem partners
ahead, doing everything in our power to Sabrina Meng, Huawei's CFO. She noted, on all fronts. Huawei currently works with
maintain business continuity and serve "Despite substantial pressure in 2022, our more than nine million developers and
overall business results were in line with over 40,000 ecosystem partners to fuel
forecast. At the end of 2022, our liability ecosystem-based innovation and create
ratio was 58.9% and our net cash balance greater value for its customers. "2023
was USD25.35 billion. In addition, our will be crucial to Huawei's sustainable
balance of total assets reached 0.14 trillion survival and development," Xu noted. "Plum
USD, largely composed of current assets blossoms tend to grow sweeter from a
such as cash, short-term investments, and harsh winter's freeze. Today, Huawei is
operating assets. Our financial position like a plum blossom. While it's true that
remains solid, with strong resilience and we have considerable pressure ahead of
flexibility. In 2022, our total R&D spend us, we have what it takes to come out the
was USD23.22 billion, representing 25.1% other end – with opportunities to grow,
of our total revenue – among the highest a resilient business portfolio, a unique
in Huawei's history. In times of pressure, competitive edge, the enduring trust of our
we press on – with confidence." In 2022, customers and partners, and the courage
revenue from Huawei's carrier, enterprise, to invest heavily in R&D. We are confident in
and consumer businesses was USD40.84 our ability to rise above any challenge that
billion, USD19.15 billion, and USD30.84 comes our way, laying a solid foundation
billion, respectively. Huawei is a strong for sustainable survival and development."
proponent of growing together with its All financial statements in the 2022 Annual
ecosystem partners, and believes that Report were independently audited by
openness and collaboration lead to shared KPMG, an international Big Four accounting
success. The company has continued to firm.

Nokia and MobiFone Sign 5G Cooperation
Agreement

Vietnamese telecoms operator MoibFone will help increase the 5G market share services will benefit not only users but also
has announced the signing of a cooperation for MobiFone and Nokia’s solutions and businesses in Vietnam.’
agreement with Finnish equipment vendor
Nokia at the Mobile World Congress (MWC
2023) in Barcelona. Under the agreement,
Nokia will support MobiFone with the
deployment of 5G technologies and the
digitization and ‘cloudification’ of its
infrastructure, including the launch of 5G
fixed wireless access (FWA) services. The
vendor will also help the company plan a
network development roadmap. ‘We are
extremely excited for the opportunity to
further strengthen the strategic partnership
with MobiFone on 5G technology and
support MobiFone in preparing and
promoting the commercialization of 5G
on its network,’ commented Nokia’s Vice
President of Global Business Ricky Corker,
adding: ‘We believe that the cooperation

42 MARCH-APRIL 2023