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Huawei's net profit fell 28% to CNY62.6 billion in 2023, aligning with forecasts due to a high comparison base from the previous year, while revenue rose 22% to CNY862.1 billion. The intelligent auto solutions unit saw a remarkable 474% revenue increase, and the company continues to invest heavily in R&D, spending CNY179.7 billion last year. As AI demand surges, Huawei aims to strengthen its foundational ecosystems, with HarmonyOS achieving significant milestones in developer engagement and market share.
Huawei Technologies Co. reported its first quarterly net loss in years, posting a loss of approximately 300 million yuan for the December quarter, despite a 9.5% rise in revenue to about 276 billion yuan. The company invested heavily in R&D, spending 179.7 billion yuan, driven by US sanctions and a focus on future-oriented projects, including advancements in chipmaking and AI. Overall, Huawei's net profit for the year fell 28% to 62.6 billion yuan, with significant contributions from its ICT infrastructure and consumer products.
Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
Huawei Technologies reported a 28% decline in net profit for 2024, despite a surge in revenue. The company attributed this drop to significant investments in advanced technologies, reflecting its commitment to innovation amid challenging market conditions.
Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
Huawei reported a 22.4% revenue increase in 2024, reaching C¥862.1 billion, the fastest growth in five years, despite a 28% drop in net profit to C¥62.6 billion due to heavy R&D investments. The consumer segment saw a 38% rise, while the intelligent automotive solutions unit's revenue surged over 4.5 times.
Huawei Technologies reported a 38% revenue increase in its consumer business for 2024, driven by a resurgence in smartphone sales, despite ongoing US-China tensions. Total revenue reached 862.1 billion yuan (US$120 billion), with the smartphone segment seeing a 37% rise in shipments to 46 million units, making Huawei the second-largest brand in China. The company also noted a significant growth in its intelligent automotive solutions, while net profit fell 28% due to increased investments in future technologies.
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.
Huawei Technologies experienced a 28% profit decline in 2024, totaling 62.6 billion yuan ($8.63 billion), despite a robust 22.4% revenue increase to 862.1 billion yuan, the highest since 2020. The company invested heavily in R&D, focusing on innovation amid US sanctions, which impacted profits due to the absence of income from the Honor unit sale.The information and communication technology sector grew by 4.9%, while the consumer sector, including smartphones, surged by 38%. Notably, Huawei's automotive solutions became profitable, with revenue increasing fourfold to 26.4 billion yuan, underscoring the company's commitment to self-reliance and technological advancement in a challenging geopolitical landscape.
Huawei Technologies Co. reported its first quarterly net loss in years, amounting to about 300 million yuan, despite a 9.5% revenue increase to approximately 276 billion yuan. The company invested heavily in R&D, totaling 179.7 billion yuan, as it navigated US sanctions and expanded into areas like EV software and AI server chips. Notably, its smart driving solutions became profitable for the first time, and the consumer business group saw a 38% growth, while the core telecom division grew by 5%.
Huawei Technologies CO. Ltd.
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