Huawei Technologies, the Chinese technology giant, recently announced with an official note, impressive financial results for the first half of 2024. The company recorded net profit increased by 17.9%, reaching 54.9 billion yuan (about 7.70 billion dollars), while revenue increased by 34.3%, reaching 417.5 billion yuan (about 52.8 billion euros). These results mark Huawei’s highest half-year revenue since 2020underscoring a significant resurgence despite continued US sanctions.
The smartphone sector has been one of the main catalysts for this exceptional growth. According to Canalys data, Huawei shipped 22.2 million smartphones in mainland China in the first half of the year, up 55% year-on-year.The success of flagship models such as the Mate 60 series and the P series has allowed Huawei to consolidate its position in the domestic market.
In addition to smartphones, Huawei also saw robust growth in its smart car components business. The intelligent automotive solutions unit has made remarkable progress, aiming to become the dominant supplier of software and components for smart electric vehicles. Through numerous agreements with automakers, Huawei has leveraged its technological advantage in autonomous driving systems and automotive software, positioning itself as an innovative leader in a rapidly expanding industry.
Despite US sanctions since 2019, which have limited Huawei’s access to global supply chains for American technology and components, the company has demonstrated remarkable resilience. Sanctions, designed to hinder China’s technological advances in the military sector, have not stopped Huawei’s innovation. The company has effectively found alternative ways to continue its development and maintain a competitive position in the global market.
“Our overall performance was in line with expectations. – said Eric Xu, Rotating Chairman of Huawei -. Looking ahead, we will continue to drive high quality across all business processes, optimizing our portfolio to improve business resilience, and building thriving ecosystems. Our ultimate goal is to provide customers with even more competitive products and solutions.”.
