Huawei, one of the world’s largest technology companies, has been sanctioned by the US since 2019 due to its ties to the Chinese military. The company, which suffered serious losses due to these sanctions, seems to have recovered in recent times. In fact, the latest reports show that Huawei is now back to its old days. Here is Huawei’s revenue in the first half of 2024…
Huawei revenue increases by 34%
Huawei is comprised of five main divisions: ICT Infrastructure, Consumer Business Unit, Cloud Computing, Digital Energy and Smart Automotive Solutions. Although the company did not share itemized revenues for each unit, total earnings information was revealed.
Huawei generated 417.5 billion Chinese yuan ($58 billion 860 million) in revenue in the first half of 2024. The company’s profit was stated as 55.1 billion Chinese yuan ($7 billion 768 million). The company’s revenue increased by 34.3 percent compared to the previous year.
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Analysts say Huawei’s performance in the first half of 2024 is quite impressive. The company’s revenues in this period surpassed the 401.3 billion Chinese yuan ($56 billion 576 million) reported in the first half of 2019, ranking second after the 454 billion Chinese yuan ($64 billion) announced in the first half of 2020.
In addition, Huawei’s net profit in the first half of the year exceeded 50 billion CNY ($7.49 billion) for the first time, an increase from 46.6 billion CNY ($6.56 billion) last year, and its profit margin reached 13.2 percent. These results demonstrate that Huawei has maintained strong financial performance despite difficult external conditions and continued to grow successfully through its strategic alignment.
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