Huawei revenue rises at fastest pace since 2016 on the back of consumer segment growth

Published On Feb 5, 2025, 10:31 PM

Huawei's revenue for 2024 rose significantly, reaching over 860 billion yuan ($118.27 billion), a 22% increase from the previous year and the highest growth rate since 2016. The strong performance is attributed to recovery in its consumer business and a growing automotive solutions segment. This growth is occurring despite ongoing U.S. sanctions that limit Huawei's access to American technology. The launch of its new smartphones and a self-developed operating system, HarmonyOS NEXT, have helped the company regain a sizable market share in China, particularly against competitors like Apple.