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Huawei reported a 22.4% revenue increase in 2024, reaching CNY862.1 billion, despite a 28% decline in net profit due to extraordinary gains in 2023 and increased investments. The company allocated CNY179.7 billion to R&D, representing 20.8% of its revenue, and saw significant growth in its consumer and automotive sectors. Huawei's intelligent automotive solutions became profitable, and it introduced AI-centric 5.5G solutions to enhance network performance and monetization opportunities.
Huawei reported a 22% year-over-year revenue increase in 2024, reaching $118.2 billion, despite facing Western sanctions. The company generated $8.6 billion in net profit, a 28% decline from the previous year, primarily due to increased R&D investments and no business sales gains. Huawei continues to focus on quality and innovation, with over half of its workforce dedicated to R&D, while also expanding into AI, cloud, and automotive solutions.
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 reported a 28% drop in profits last year, totaling 62.6 billion yuan ($8.6 billion), amid international economic uncertainty and ongoing US sanctions that have limited access to critical technology. Despite this, revenue rose 22% to 862.1 billion yuan, driven by its ICT infrastructure and consumer products. The company 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.
Huawei reported a robust 2024 performance with CNY862.1 billion in revenue and CNY62.6 billion in net profits, investing CNY179.7 billion in R&D, which is 20.8% of its revenue. The company achieved significant growth in AI and intelligent automotive solutions, while emphasizing quality and collaboration for future success. All financial statements were independently audited by KPMG.
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.
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'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.
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.
Sabrina Meng
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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