Huawei revenue exceeds $118.27 billion in 2024 despite U.S. sanctions

From CNBC: 2025-02-05 22:31:23

Huawei unveiled the Mate 70 series with HarmonyOS NEXT on November 26, 2024, in Shenzhen. Despite U.S. restrictions, Huawei’s revenue exceeded 860 billion yuan ($118.27 billion) in 2024, marking a 22% increase from the previous year.

Chairman Howard Liang highlighted the consumer business’s growth and the rapid development of the car solutions business at a local government conference. Huawei’s revenue growth in 2024 was the fastest since 2016, driven by stable performance in the ICT business segment.

Despite facing restrictions, Huawei’s smartphone shipments in mainland China surged by 37% in 2024, propelling the company to second place in market share. The Mate 70 series marks Huawei’s continued comeback in the smartphone market after the successful launch of the Mate 60 Pro in 2023.

Read more: Chinese telecom giant Huawei revenue surges despite U.S. sanctions