Huawei's chairman Howard Liang Hua said on Wednesday that as it continued to shake off the impact of U.S. sanctions and its consumer business is slowly returning to growth, the tech company's annual revenue exceeded 860 billion yuan ($118.27 billion) last year.
Liang Hua has reportedly made the remarks at a forum in Guangzhou.
The chairman said the company’s “overall operations met expectations” in 2024, thanks to growth in its consumer business, which includes smartphones and wearables, as well as “smart car solution operations that developed rapidly”.
An annual revenue of 860 billion yuan would mark 22% year-on-year-growth from 2023, when Huawei reported 704.2 billion yuan in revenue. The company also reported its fastest growth in four years that year.
"In 2024, Huawei's overall operations will meet expectations, ICT infrastructure will remain stable, consumer business will return to growth, and the smart car solution business will develop rapidly, with annual sales revenue exceeding 860 billion yuan," Liang was quoted as saying.
Huawei's consumer business has made a strong comeback since August 2023, when it launched new phones with locally-made chipsets that defied U.S. sanctions. Last year, it grabbed a 16% share of the Chinese smartphone market, overtaking Apple, according to data from Canalys.
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