SHANGHAI, Dec 30 Reuters Chinese tech giant Huawei Technologies Co Ltd HWT.UL estimated on Friday its 2022 revenue remained flat, suggesting that its sales decline due to U.S. sanctions had come to a halt.

Despite sales increasing a mere 0.02, rotating chairman Eric Xu struck an upbeat tone in the company39;s annual New Year39;s letter, where he revealed the figure.

U.S. restrictions are now our new normal, and we39;re back to business as usual, Xu wrote in the letter that was addressed to staff and released to media.

Revenue for the year is expected to be 636.9 billion yuan 91.53 billion, according to Xu.

That represents a tiny increase from 2021, when revenue hit 636.8 billion yuan, and marked a 30 yearonyear sales tumble as the U.S. sanctions on the company took effect.

Xu39;s letter did not mention Huawei39;s profitability. The company typically discloses its full annual results in the following year39;s first quarter.

Revenue for 2022 still remained well below the company39;s record of 122 billion in 2019. At the time the company was at its peak as the top Android smartphone vendor globally.

In 2019, the U.S. Trump administration imposed a trade ban on Huawei, citing national security concerns, which barred the company from using Alphabet Inc39;s Android for its new smartphones, among other critical U.S.origin technologies.

The sanctions caused its handset device sales to plummet. It also lost access to critical components that barred it from designing its…