Huawei revenue soars thanks to smartphones

Huawei's smartphone business has made a surprising "revival" despite the ongoing tense US-China trade war. Photo: SCMP .

According to SCMP , Huawei's consumer business has seen a strong 38% annual revenue growth in 2024. This is a sign of the incredible recovery of this technology giant despite the ongoing US-China trade war.

Specifically, according to data released by Huawei, revenue from consumer services, including the smartphone business, jumped 38% year-on-year in 2023, reaching 339 billion yuan ( $47 billion ) and contributing significantly to the 22% increase in total revenue.

SCMP said smartphone sales have recovered thanks to progress in finding homegrown chip supplies. Huawei has made great strides in phasing out US hardware and software after being banned from accessing advanced technology.

According to the China Information Technology Security Evaluation Center, the Kirin X90 chip developed by HiSilicon, Huawei's chip design arm, has received a national level 2 certification for security reliability.

The market has also benefited from Beijing's efforts to boost consumption, with consumers favoring domestic brands amid rising US-China tensions.

"In 2024, the entire Huawei team united to tackle a series of external challenges, while continuing to improve product quality, operational quality, and operational efficiency," said Huawei rotating chairwoman Meng Wanzhou after the press conference.

In addition to smartphones, Huawei's information and communications technology infrastructure segment also saw revenue increase by 5% to 369.9 billion yuan. This segment also accounts for the largest source of revenue for this giant.

Source: https://znews.vn/doanh-thu-huawei-tang-vot-nho-smartphone-post1542311.html