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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's automotive revenue surged nearly sixfold in 2024, while its consumer business, including smartphones, grew over 38%, despite stringent U.S. export controls. The company reported a revenue of 862.1 billion yuan ($118.16 billion), a 22% increase from the previous year, although net profit fell 28% to 62.6 billion yuan. Revenue levels have rebounded to those seen in 2019, prior to being placed on the U.S. Entity List.
Huawei Technologies reported a 28% drop in net profit for 2024, totaling 62.6 billion yuan ($8.63 billion), largely due to significant investments in research and development, which reached 179.7 billion yuan, or about 20% of revenue. However, the company experienced its fastest revenue growth in five years.
CoreWeave Inc. made its public debut with an IPO, as CEO Michael Intrator defended the company's client concentration due to significant deals with Microsoft, highlighting long-term growth potential. In a major acquisition, Elon Musk's xAI purchased social media platform X for $33 billion, creating a combined entity valued at $80 billion. Microsoft's CEO Satya Nadella urged his team to accelerate innovation in response to China's DeepSeek, while Huawei has reportedly doubled its AI chip yields despite US sanctions, positioning itself as a formidable tech player. Additionally, Google introduced Gemini 2.5 Pro, its most advanced AI model, capable of thoughtful responses to complex queries.
Belgian judicial authorities suggest that executives at Huawei Technologies Co. likely had knowledge of alleged bribes to European Union lawmakers in 2021. A lobbyist for the company is accused of offering €15,000 to a member of the European Parliament for a promotional letter, along with €1,500 to other lawmakers who co-signed it.
Cloud infrastructure spending in mainland China is set to grow by 15% in 2025, reaching US$46 billion, following a 13% increase in 2024. This growth is fueled by the adoption of AI technologies, with major providers like Alibaba, Huawei, and Tencent expanding their investments in computing resources and AI infrastructure. Alibaba, holding a 36% market share, plans to invest 380 billion yuan (US$52.4 billion) over the next three years.
Huawei Technologies CO. Ltd.
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