Huawei's Profits Surge, Overtaking Apple in China Despite US Sanctions

Huawei's strategic shift to domestic technologies and markets yields a 564% profit increase, challenging Apple's dominance in the Chinese market.

Huawei reported a six-fold increase in profits, reaching 19.6 billion yuan in Q1 2024, amidst stringent US sanctions.
The Chinese tech giant's success is partly due to its new smartphone models, like the Mate 60 Pro, which utilize domestically produced 7nm chips.
Despite US efforts to curb its tech capabilities, Huawei has emerged as China's top smartphone brand, surpassing Apple in local sales.
Apple's sales in China have declined, with a significant 19% drop in iPhone sales during the same period.
Huawei continues to expand into new sectors, including smart car technology, aiming to diversify its revenue streams.