Huawei
Huawei expected to claim win on US ban as smartphone revenue booms
Huawei is set to announce its 2024 annual revenue report and the company is expected to claim victory over the US ban, following smartphone revenue increased last year. Apart from phones, the OEM gained momentum in smart driving business.
The Chinese phone maker has been suppressed by sanctions for five years and is still barred from entering the US market or using advanced US techs. But in the past two years, it tried good enough to overcome these obstacles via in-house solutions.
While the US sanctions put the company in survival mode, rising sales of its 5G phones, progress in chips, and smart-driving business growth helped it get out of that phase.
In February, a senior Huawei official revealed that the company made 860 billion yuan ($118 billion) in revenue last year. The executive hinted that its smartphone business and “self-made product” strategy helped it to rise amid US bans.
Huawei was doing great in the Chinese and global smartphone business before the US restrictions hit it. And the 2024 annual revenue of 860 billion yuan reflects that the company is nearly reaching its 2020 peak of 891 billion yuan.
There’s still a significant gap between the 2020 and 2024 annual revenue results. However, the new figure implies that Huawei could claim a victory on the US ban as its smartphone revenue, smart driving business, and chip progress are growing.
Huawei expected to claim win on US ban as smartphone revenue booms (Image Credits: Huawei)
2024 – a full-year profit
Huawei will officially confirm 860 billion yuan in revenue earnings for last year in the upcoming report. It may also reveal profit and net growth made in 2024.
The company has mentioned many times that though the US sanctions led to difficult scenarios, they also opened new opportunities for it and enabled the firm to make such products that can serve as alternatives to foreign rivals’ products.
Speaking of the smartphone business, the company sold 45 million units last year with a 25% YoY increase. Huawei has increased its foothold in every segment: from mid-to-high-end markets, tablets, and PCs. The main stars were Mate XT – the world’s first tri-fold, Pura 70 series, and Mate 70 models.
For the smart car solution business, Huawei is now teaming up with global automobile makers like Nisaan, Audi, and BMW to launch ultimate SUVs in China.
Huawei also challenged Google and Apple with its self-developed operating system: HarmonyOS NEXT. The software stands at third spot and has even surpassed iOS in China.
Now, it aims to step into the PC market with its self-developed HarmonyOS computer software. Just like the Chinese phone industry, the tech giant eyes HarmonyOS growth in the PC segment, ending the duopoly of Windows and MacOS.
HarmonyOS can be world’s third largest PC operating system: Huawei
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