Huawei 2024 Revenue jumped to almost record high on returning smartphones

Huawei on Monday reported a sharp jump in revenue in 2024, when its main telecommunications and consumer business accelerated.

Huawei reported revenue for 2024 from $ 862.1 billion ($ 118.2 billion), 22.4% on an annual basis.

This is the second highest figure in the company’s revenue so far, according to CNBC estimates, just shy of the records of 891.4 billion Yuan, reported for 2020.

However, the net profit fell to 62.6 billion yuan, a drop of 28% against 2023. Huawei said it was the result of an increase in investment.

It comes when the Chinese technology giant tries to adapt its business to deal with US sanctions that limit its access to key technology such as semiconductors.

“In 2024, the entire Huawei team came together to cope with a wide range of external challenges while improving the quality of the product, the quality of operations and operational efficiency,” said Huawei Rotary Chairman Meng Wujou in the company’s annual report.

Huawei has spent 179.7 billion yuan on research and development, equivalent to 20.8% of its revenue. This is higher than 164.7 billion figures of research and development of 2023. Huawei diversified its business in fields, including AI data centers, cloud calculations and automotive technologies.

“Over the next three years, despite the economic decline, we will increase investment in strategic depth, especially in the construction of fundamental technologies and will seek opportunities for growth through differentiation,” Meng said.

Huawei sales last year were conditioned by its two largest enterprises – ICT infrastructure and consumers – who together represent about 82% of the company’s total revenue.

Revenues in the ICT infrastructure department, which includes his business with carriers, has grown 4.9% on an annual basis to 369.9 billion yuan. This is Shenzhen’s largest business seat of a revenue company. Huawei is one of the largest telecommunication equipment companies in the world, and the company said that large-scale implementation of next-generation 5G networks has helped to stimulate growth.

The company also stated that 2024 is the first year of commercial implementation of next -generation networks called 5.5G or 5G Advanced, which also helped give a boost to sales.

Huawei, once the biggest smartphone player in the world, saw his business with smartphones more specially crushed by US sanctions that limit his access to key chips and Google SoftwareS

Since the end of 2023, however a Semiconductor In China, Huawei allowed to regroup and launch high -end phones, which were sold very well in the country.

In 2024, supplies on Huawei smartphones in China jumped 37% annually, while its market share increased to 16% of 12% in 2023, according to Canalys. This came to the expense of AppleWhich noted the decline in its market share and the deliveries are falling.

Huawei aggressively launches premium smartphones including the first of its kind of the triple headsetand there is also began to slowly restart devices abroadS

Huawei, meanwhile, also released Harmonyos 5 in 2024, the first version of its self -developed mobile operating system that It is reported that it no longer uses Each open code from Google Android.

However, analysts have told CNBC The fact that Huawei’s overseas perspectives remain a challenge, given the lack of access to Android, which works most world smartphones, and continue restrictions on access to the most avant-garde chips, such as those found in Apple and Samsung devices.