The Huawei stand at the Mobile World Congress in Barcelona, 2025.
Arjun Kharpal | CNBC
Huawei reported a net jump on Monday in 2024 as its main telecommunications and consumer companies have accelerated.
Huawei has declared revenues for 2024 out of 862.1 billion Chinese yuan ($ 118.2 billion), an increase of 22.4% in annual shift.
This is the second largest income figure in the company of all time, according to CNBC calculations, just less than the record of 891.4 billion yuan reported for 2020.
However, net profit dropped to 62.6 billion yuan, a drop of 28% against 2023. Huawei said that was the result of an increase in investments.
It then happens that the Chinese technology giant is trying to adapt its business to deal with American sanctions that have limited its access to key technologies such as semiconductors.
Huawei spent 179.7 billion yuan research and development, which is equivalent to 20.8% of its income. This is higher than the R&D figure of 164.7 billion R&D of 2023. Huawei diversifies its business in areas, including data centers for AI, cloud computing and automotive technology.
Last year, Huawei sales were motivated by its two largest companies – ICT and consumer infrastructure – which together represent around 82% of the company’s total income.
Revenues to the ICT infrastructure division, which includes its carrier activities, increased by 4.9% in annual shift to 369.9 billion yuan. It is the largest company in Shenzhen, whose firm has its registered office in terms of income. Huawei is one of the largest telecommunications equipment companies in the world and the company said that the large -scale deployment of new generation 5G network had helped stimulate growth.
The company also said that 2024 was the first year of commercial deployment of new generation networks, nicknamed 5.5 g or 5g advanced, which also contributed to giving a boost to sales.
Smartphone revival in China
An acceleration in Huawei consumption activities has also helped its income figures. The consumer company made sales of 339 billion yuan, an increase of 38.3% and a strong acceleration of the growth observed last year.
Huawei, once the world’s largest smartphone player has seen its smartphone activity in particular crushed by American sanctions that Restricted its access to key fleas and Google software.
From the end of 2023, however, a breakthrough of semiconductors in China allowed Huawei to regroup and release high-end phones which sold very well at the national level.
In 2024, Huawei smartphones shipping in China jumped 37% in annual sliding, while its market share increased to 16% compared to 12% in 2023, according to Canalys data. It took place at the expense of AppleWho has seen its market share decrease and shipping.
Huawei aggressively launched Premium smartphones, including the very first Trifold handset, and also started to slowly relaunch the devices abroad.
Meanwhile, Huawei also published Harmonyos 5 in 2024, the first version of its self-developed mobile operating system which would no longer use Google Android open-source code.
However, analysts have told CNBC that Huawei’s overseas prospects remain a challenge given its lack of access to Android, which operates on the majority of world smartphones, and continuous restrictions to access the most sharp chips, such as those found in Apple and Samsung devices.
New affairs focus
To alleviate some of the effects of American sanctions in recent years, Huawei has pushed in new areas such as its digital energy division, which includes an accent on energy infrastructure in fields such as electric cars and renewable energies.
This segment – still a whole new business – has seen income increase by 24.4% to 68.7 billion yuan.
Cloud computing income, on the other hand, increased by 8.5% in annual sliding.
Huawei’s smallest company, called Intelligent Automotive Solution, said an increase of 474.4% in annual incomes to 26.4 billion yuan. Huawei is developing car software as well as driving aid systems for third -party car manufacturers.
