Huawei has reported impressive growth for 2024, with total revenue surpassing CNY 860 billion ($110.6 billion), marking a 22% year-on-year increase. The company’s consumer business, in particular, has shown signs of recovery, while its infrastructure sales remain stable. The full 2024 financial results are expected to be released in March.
Despite facing ongoing external challenges, Huawei Chairman Liang Hua expressed confidence in the company’s future, particularly its focus on the digital transformation and low-carbon economy. “The shift to more intelligent services and a low-carbon economy is inevitable,” Liang said during a speech in Guangzhou, stressing the company’s commitment to innovation and global service expansion.
Huawei is also making significant strides in the automotive sector, leveraging its expertise in communication infrastructure to develop smart vehicle technologies. After a series of US trade restrictions limited the company’s access to critical components, including advanced chips and software, Huawei pivoted towards the automotive market. In August, its smart car unit was valued at $16 billion following investments from two Chinese companies, which acquired a combined 10% stake.
The company’s continued focus on strategic investments and the expansion of its smart vehicle capabilities highlight Huawei’s resilience in adapting to new sectors and navigating a complex geopolitical landscape.
