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Huawei reported a revenue increase in 2024, driven by a 38% surge in smartphone sales, totaling CNY 339 billion. However, net profit fell by 28% to CNY 62.6 billion, with operating margins declining to 9.2%. The company emphasized its focus on R&D, investing CNY 179.7 billion, while over 71% of revenue came from the domestic market.
Huawei reported a 22.4% revenue increase in 2024, reaching CNY 862.1 billion (USD 118.8 billion), driven by strong smartphone sales in China. However, net profit fell by 28% to CNY 62.6 billion, with operating margins declining from 14.8% to 9.2%. The company emphasized its focus on R&D, investing CNY 179.7 billion, and highlighted the growing importance of the domestic market, which accounted for over 71% of total revenue.
Huawei reported a sales revenue of 862.1 billion yuan (approximately $120.1 billion) in 2024, a significant increase from 704.2 billion yuan the previous year, with net profits reaching 62.6 billion yuan. The company invested 179.7 billion yuan in R&D, representing about 20.8% of its revenue, and has over 150,000 valid patents globally. Notably, Huawei's intelligent automotive solutions turned a profit for the first time, and the company continues to enhance its HarmonyOS ecosystem while expanding its platform capabilities for developers.
Xu Zhijun has been appointed as Huawei’s Rotating and Acting Chairman, effective April 1, 2025, until September 30, 2025. He succeeds Meng Wanzhou, who held the position from September 2024 to March 31, 2025. Xu, a long-time executive at Huawei, will oversee the company's growth and focus on enhancing product quality during his tenure.
Huawei reported a record revenue of 862 billion yuan (approximately $118 billion) in 2024, a 22% increase from the previous year, despite US sanctions. The growth is attributed to strong sales of smartphones and automotive-related products featuring Chinese-made chips. However, net profit fell 28% to 62.5 billion yuan ($8.6 billion), as the company continues to invest in research and development.
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 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 reported a 22.4% year-on-year revenue increase in 2024, reaching 862.1 billion yuan, the second-highest in its history. The growth was primarily driven by its ICT infrastructure and consumer businesses, which together accounted for 82% of total revenue. Despite this surge, net profit fell 28% to 62.6 billion yuan due to significant R&D investments of 179.7 billion yuan, representing 20.8% of revenue.
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.
Meng Wanzhou
People
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