Chinese tech giant Huawei’s revenue and net profit for the first half of 2024 grew significantly, according to a Reuters report. Despite the sanctions of the United States, Huawei was able to experience significant growth with good sales of smartphones and the business of smart car parts.
Huawei’s net profit in January-June (D-Tue) increased by 18% to 54.9 billion yuan (7.7 billion dollars) and its revenue increased by 34.3% to 417.5 billion yuan (58.75 billion dollars) reached. After a similar period in 2020, Huawei has now reached its highest revenue in the first half of the year.
Huawei did not provide revenue figures for different segments separately; But the company’s spokesperson said that the consumer business, which includes smartphones and personal computers, as well as the auto parts unit, performed well.
Data from research firm Canalys shows that Huawei shipped about 22.2 million smartphones in China in the first half of 2024, which represents a 55% growth compared to 2023.
Huawei returned to the premium 5G smartphone market last year with the Huawei Mate 60 series and this year with the P series. Huawei’s revenue growth shows that the company has successfully weathered the US sanctions imposed since 2019. US sanctions against Huawei have blocked the Chinese tech giant’s access to advanced chips and other technologies.
Although the United States considers Huawei a national security risk; But the company has never accepted the charges. Over time, U.S. sanctions increased, banning the export of highly advanced chips to all Chinese companies. The US plans to keep advanced technologies out of the reach of China’s military.
In the past four years, Huawei has seen significant growth in the business of smart car solutions and plans to become a major supplier of software and components for smart electric cars. In this regard, Huawei has signed contracts with many car manufacturers.
The spokesperson of Huawei announced that the infrastructure of the information and communication technology, cloud space and digital power sectors of this company had a stable performance and the profit of the first half of 2024 did not increase compared to last year.
