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Huawei's 2024 revenue reached 860 billion yuan ($118.1 billion), marking a 22% increase despite ongoing U.S. sanctions. The company has successfully re-entered the premium smartphone market with its Mate 60 series and is also expanding in cloud computing and autonomous driving technology, positioning itself as a leader in China's tech self-sufficiency efforts.
The Chinese high-end smartphone market is experiencing significant shifts, with Huawei's resurgence challenging Apple's dominance. In 2024, Huawei captured 30.7% of the high-end market, while Apple's share fell to 51.1%. As domestic brands like Honor and Xiaomi strive for growth, the competition intensifies, particularly with the anticipated rise of AI smartphones and national subsidies in 2025.
U.S. stocks fell as rising Treasury yields weighed on the market, with major companies like Apple and Nvidia dropping over 2%. Tesla's shares surged 12% after beating earnings forecasts, while SK Hynix reported a record profit despite slightly missing revenue expectations. Apple is exploring collaborations in China, and analysts suggest European stocks may have significant growth potential despite overall market lag.
Tim Cook's recent visit to China aims to strengthen support for Apple Intelligence amid rising competition. Meeting with local officials and partners, he emphasized Apple's commitment to investment and collaboration, while navigating regulatory hurdles for the AI rollout. Despite a successful iPhone 16 launch, Apple faces challenges from local competitors like Huawei, impacting its market share.
Ivan Lam
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Huawei reports 118 billion dollars in revenue amid US sanctions
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