Huawei Reports $118 Billion Revenue in 2024, Marking 22% Growth

The Chinese tech giant's resurgence was driven by domestic smartphone sales, smart car solutions, and AI advancements despite U.S. sanctions.

Huawei achieved 860 billion yuan ($118.27 billion) in revenue in 2024, reflecting a 22% year-on-year increase, its fastest growth in four years.
The company regained momentum in its consumer business, with smartphones featuring domestically produced chipsets capturing 16% of the Chinese market and surpassing Apple in sales.
Huawei's smart car solutions unit contributed significantly to revenue, collaborating with Chinese automakers on autonomous driving software and in-car operating systems.
The company expanded its AI and cloud computing presence by integrating its Ascend AI GPUs with DeepSeek's R1 large language model, showcasing advancements in domestic AI hardware.
Huawei's performance underscores its resilience in navigating U.S. sanctions, which have restricted access to advanced technologies and global markets.