Huawei increases revenue by 22% despite US sanctions - report
Kyiv • UNN
Huawei reported revenue of 860 billion yuan in 2024, up 22% from 2023. This is the second best figure in the company's history after the 2020 record of 891 billion yuan.
Huawei Technologies, the world's largest telecommunications equipment vendor, recorded revenues of more than 860 billion yuan ($118.3 billion) in 2024, the company's chairman said on Wednesday, the South China Morning Post reported, indicating that this is "a sign of the tech giant's resilience to US sanctions," UNN writes.
Details
Huawei CEO Howard Liang Hua said that the company's "overall performance met expectations" in 2024, driven by growth in its consumer business, which includes smartphones and wearables, as well as "smart car solution operations, which have been developing rapidly.
Revenue in 2024, as indicated, was the second highest for Huawei ever, and the highest ever was 891 billion yuan in 2020, which came after the US first imposed sanctions on the company's lucrative mobile phone and international operations.
Huawei's revenue for 2024 is said to be a steady 22% year-on-year increase from the 704.2 billion yuan recorded in 2023.
