Huawei Sees Revenue Boost from Smartphone Sales Despite US Sanctions
Huawei's Revenue Surge Driven by Smartphone Sales
Huawei Technologies, a leader in telecommunications equipment, has experienced a significant revenue surge of 29.5% in the first three quarters of 2024, grossing 585.9 billion yuan (approximately US$82.3 billion), compared to 452.3 billion yuan last year. This growth is largely attributed to rising smartphone sales in the Chinese market.
Smartphone Market Performance and Strategies
Despite a 13.7% drop in net profit to 62.9 billion yuan, Huawei's strong revenue performance is indicative of its recovery in the premium 5G Android smartphone sector. Notably, Huawei surpassed Apple in smartphone sales in August for the first time in over three years, driven by the popularity of its Mate 60 and Pura 70 devices.
- 42% increase in third-quarter smartphone shipments year-on-year
- Maintained a 15.3% market share
- Upcoming launch of the flagship Mate 70 series
As Huawei enhances its smartphone software with the newly launched HarmonyOS 5.0, the company's drive to develop AI chips as alternatives to Nvidia's offerings reflects its effort to adapt amidst US sanctions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.