Skip to main content
Best News Website or Mobile Service
WAN-IFRA Digital Media Awards Worldwide 2022
Best News Website or Mobile Service
Digital Media Awards Worldwide 2022
Hamburger Menu
Advertisement
Advertisement

Business

Huawei chairman says 2024 revenue exceeded $118 billion

Huawei chairman says 2024 revenue exceeded $118 billion

FILE PHOTO: Huawei Technologies Co Ltd Chairman Liang Hua speaks during a news conference in Paris, France, February 27, 2020. REUTERS/Charles Platiau/File Photo

SHANGHAI : Huawei's chairman said on Wednesday that the tech company's annual revenue exceeded 860 billion yuan ($118.27 billion) last year, as it continued to shake off the impact of U.S. sanctions and its consumer business returned to growth.

Liang Hua made the remarks at a forum in Guangzhou, according to a report by the Shenzhen Business Daily, which was confirmed by a Huawei spokesperson.

Annual revenue of 860 billion yuan would mark 22 per cent year-on-year-growth from 2023, when Huawei reported 704.2 billion yuan in revenue. The company also reported its fastest growth in four years that year.

"In 2024, Huawei's overall operations will meet expectations, ICT infrastructure will remain stable, consumer business will return to growth, and the smart car solution business will develop rapidly, with annual sales revenue exceeding 860 billion yuan," Liang was quoted as saying.

Huawei's consumer business has made a strong comeback since August 2023, when it launched new phones with locally-made chipsets that defied U.S. sanctions. Last year, it grabbed a 16 per cent share of the Chinese smartphone market, overtaking Apple, according to data from Canalys.

($1 = 7.2715 Chinese yuan renminbi)

Source: Reuters
Advertisement

Also worth reading

Advertisement