Sharjah 24 – AFP: Chinese tech giant Huawei said on Friday it had returned to "business as usual" despite US sanctions as it estimated annual revenues to remain flat for 2022.

A leading supplier of telecom gear, smartphones and other advanced equipment, Huawei was hammered during a crackdown by the administration of previous US president Donald Trump over cybersecurity and espionage concerns.

His successor Joe Biden has added to that pressure with regulations that threaten Huawei's access to global semiconductor supply chains.

But Huawei's chairman Eric Xu sounded a positive note in a New Year's message.

"In 2022, we successfully pulled ourselves out of crisis mode. US restrictions are now our new normal," he said in the letter.

"We're back to business as usual."

The company estimated annual revenue for 2022 at 636.9 billion yuan ($92 billion), up only slightly from the 636.8 billion yuan in 2021.

Huawei has moved to diversify revenue streams after US-led sanctions took a major chunk out of its telecom equipment and smartphone businesses.