Huawei annual revenue escalation shows US sanctions didn’t work: Report

Huawei has recently mentioned its annual revenue growth amid the tightened US sanctions. Looks like the foreign authorities aren’t capable of much to prevent the Chinese tech giant from reaching new heights of success and progressing day by day.

A new report has given a different perspective on this matter. While Huawei’s latest achievement is a positive sign for China’s tech development, it also suggests major loopholes in the US export controls and relevant restrictions.

Despite many US sanctions and bans in different countries over the 5G network equipment dispute, Huawei achieved a significant hike in its annual revenue growth.

The company earned around 860 billion yuan ($118 billion) in the 2024 annual sales revenue. It has jumped to 22% year-on-year and received immense support in the Chinese market for its innovative and smart products. It aims to make further progress this year with ‘extraordinary’ devices that are beyond imagination.

US Sanctions

Speaking of the US, the foreign government has made new norms to stop China and its companies from growing. The Biden administration released even tougher controls on the chip supply before giving the seat to Donald Trump.

At the same time, it has added more than 20 Chinese firms to the Entity list to prevent them from accessing high-end technologies and advanced chipsets.

The US is making these changes over its national security concerns. But it seems these aren’t affecting China much. The latest report suggests that the Chinese OEMs are marching forward on their own terms and are dedicated to new growths regardless of the outside environment.

Liang indirectly pointed out that the booming smartphone sales majorly contributed to the company’s overall revenue. Huawei Consumer Business has seen rapid growth over a few months – thanks to smart AI features and improved Kirin 5G chipsets.

On the other hand, the company’s smart automotive solution business has recorded new success. The tech giant is now collaborating with more automakers including some foreign brands. Perhaps, we may witness more positive results in Huawei’s world this year.

Huawei annual revenue escalation shows US sanctions didn’t work: Report (Image Credits: Huawei)

(via)