Huawei indirectly acknowledges that its smartphone sales are fueling revenue growth.
Huawei has reported a substantial boost in annual revenue, with smartphone sales playing a pivotal role in the company’s success in 2024.
At a forum in Guangzhou on Wednesday, Huawei Technologies Chairman Liang Hua discussed how the company navigated the challenges of the past year, achieving impressive results across multiple sectors, including its smartphone division.
According to the reports, Huawei generated an annual revenue of 860 billion yuan ($118 billion) in 2024, marking a 22% year-on-year increase. The company set new milestones in the first half of 2024, recording a net profit of $7.7 billion—a 34.3% rise compared to the previous year—even amidst the ongoing US ban.
- Huawei revenue soars 34.3% in H1 2024, thanks to strong smartphone sales
By the end of 2024, Huawei’s annual revenue exceeded $118 billion—thanks in large part to its new 5G phones. Liang subtly indicated that the surge in smartphone sales not only boosted revenue but also elevated the company’s market competitiveness.
He noted that overall operations in 2024 met expectations, with the smartphone business rebounding and the smart car solutions segment gaining momentum.
After five challenging years under US sanctions, Huawei made a strong comeback in the smartphone market with the launch of its Mate 60 series in 2023. This lineup, celebrated for its Kirin 5G chip, marked the beginning of a new era of self-reliance for the tech giant.
Mid-range devices like the Nova 12 series, Pocket 2, and Nova Flip have enhanced the company’s value, while premium models such as the Pura 70 series, Mate XT, and Mate 70 series have reestablished its foothold in the high-end market.
Looking ahead to 2025, Huawei is poised to drive further innovation with upgraded Kirin 5G chips. The company is currently preparing to launch new products including the Pocket 3 foldable, the Pura 80 series, and the Nova 14 models. Despite ongoing challenges, Huawei remains committed to advancing digitalization, smart technology, and low-carbon initiatives.
