{
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Huawei reported a 28% drop in profits for 2024, totaling 62.6 billion yuan ($8.6 billion), amid international economic uncertainty and weak domestic consumption. However, revenue rose 22% to 862.1 billion yuan, the highest since 2020, as the company adapts to US sanctions and focuses on quality. Last year, Huawei launched its first smartphone with a fully homegrown operating system and introduced the world’s first triple-folding phone, competing against Apple and other domestic brands.
France's antitrust regulator has imposed a fine on Apple for abusing its dominant position in the distribution of mobile apps. This decision highlights ongoing scrutiny of major tech companies and their market practices in Europe. The ruling underscores the regulatory challenges faced by Apple in maintaining its market influence.
Huawei reported a 22.4% year-on-year increase in sales revenue for 2024, reaching 862.1 billion yuan ($118.2 billion), driven by a 38% surge in its consumer business, particularly smartphones. Despite this growth, net profit fell by 28% to 62.6 billion yuan due to increased investments in R&D, which rose to 179.7 billion yuan, aimed at overcoming external challenges. The company is also expanding its smart automotive solutions and focusing on new digital products and 5G services.
Huawei reported a 28% decline in profits for 2024, with net profits at 62.6 billion yuan ($8.6 billion), down from 87 billion yuan in 2023, amid global economic uncertainty and weak domestic consumption. Despite this, revenue grew by 22% year-on-year to 862.1 billion yuan, the highest since 2020. The company remains committed to quality and innovation, launching its first smartphone with a fully homegrown operating system and the world’s first triple-folding phone.
Huawei Technologies Co reported its first quarterly net loss in years, posting a deficit of about 300 million yuan despite a 9.5% revenue increase to approximately 276 billion yuan. The loss is attributed to heavy investments in research and development, particularly in electric vehicles and chips, amid ongoing US sanctions. While the consumer business grew 38% and the smart driving solutions became profitable, the company faces challenges as the US pressures European carriers to limit business with Huawei.
Warren Buffett's Berkshire Hathaway has over 85% of its $290 billion portfolio concentrated in 12 key stocks, including Apple, American Express, and Coca-Cola, which are known for their sustainable competitive advantages. Buffett's investment strategy focuses on value, shareholder-friendly businesses, and companies with strong growth potential, particularly in emerging markets. Coca-Cola, with its extensive global presence and consistent dividend growth, exemplifies this approach, while American Express benefits from its dual role in transactions and lending.
Huawei's profits fell 28% in 2024, with net earnings at 62.6 billion yuan (US$8.6 billion), down from 87 billion yuan in 2023, amid economic uncertainty and weak domestic consumption. Despite this decline, revenue rose 22% year-on-year to 862.1 billion yuan, the highest since 2020. The company continues to innovate, launching its first smartphone with a fully homegrown operating system and the world’s first triple-folding phone.
Huawei reported a 28% drop in profits last year, totaling 62.6 billion yuan ($8.6 billion), amid international economic uncertainty and domestic consumption challenges. Despite US sanctions limiting access to technology, the company achieved a 22% revenue increase, reaching 862.1 billion yuan, its highest since 2020. Huawei continues to innovate, launching its first smartphone with a homegrown operating system and the world’s first triple-folding phone, while facing scrutiny over alleged bribery in the EU.
The Trump administration's antitrust policy, led by Gail Slater and Andrew Ferguson, shows continuity with Biden's approach while adopting a more targeted enforcement strategy. They emphasize protecting workers from harmful practices like noncompete clauses and maintaining consumer welfare, focusing on evidence of anticompetitive conduct rather than market share alone. This shift aims to ensure that successful companies are not penalized without clear justification.
Huawei's net profit fell 28% to CNY62.6 billion in 2024, influenced by a one-off gain from the previous year, despite a 22.4% revenue increase to CNY862.1 billion, driven by strong consumer and automotive sales. The consumer group revenue surged 38.3% to CNY339 billion, while automotive-related sales skyrocketed over fourfold to CNY26.4 billion. The company continues to adapt to US trade restrictions by focusing on electric vehicles and smart manufacturing, with R&D spending rising to CNY179.7 billion, representing 20.8% of total revenue.
Apple Inc.
Companies
| Symbol | AAPL |
| Name | Apple Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Technology Hardware & Equipment |
| Industry | Electronic Equipment, Instruments & Components |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Cupertino |
| Zipcode | 95014 |
| Website | http://www.apple.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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