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American Focus > Blog > Economy > Chinese telecom giant Huawei revenue surges despite U.S. sanctions
Economy

Chinese telecom giant Huawei revenue surges despite U.S. sanctions

Last updated: February 5, 2025 9:03 pm
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Chinese telecom giant Huawei revenue surges despite U.S. sanctions
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Huawei Unveils Mate 70 Series with HarmonyOS NEXT

Huawei made headlines on November 26, 2024, as it launched the highly anticipated Mate 70 series in a grand event held in Shenzhen. The standout feature of these new smartphones is their ability to run on Huawei’s latest operating system, HarmonyOS NEXT.

Despite facing restrictions from the U.S. government that limit its access to cutting-edge technology, Huawei continues to thrive in the global market. In 2024, the company reported a record-breaking revenue of over 860 billion yuan ($118.27 billion), marking a significant 22% increase from the previous year. This growth rate is the fastest Huawei has seen since 2016, when revenue surged by 32%.

Chairman Howard Liang shared these impressive numbers during a recent local government conference, highlighting the remarkable performance of Huawei’s consumer business, which has shown signs of “returning to growth.” Additionally, Huawei’s car solutions business has been experiencing rapid development, while its information and communications technology division, the largest revenue generator for the company, has remained stable.

Since 2019, Huawei has faced challenges due to restrictions imposed by the U.S., which have limited its access to key technologies such as 5G chips and Google’s Android operating system. Despite these obstacles, Huawei has managed to pivot and adapt, showcasing its resilience and innovation in the face of adversity.

In the smartphone market, Huawei has been making waves with its latest releases. In 2023, the company saw a resurgence with the launch of the Mate 60 Pro in China, which received rave reviews for its lightning-fast download speeds powered by advanced semiconductor chips. Building on this success, Huawei raised the bar once again with the unveiling of the Mate 70 series, featuring the groundbreaking HarmonyOS NEXT operating system.

See also  3 Growth Stocks That Could Skyrocket in 2024 and Beyond

The Mate 70 smartphones are not only a testament to Huawei’s technological prowess but also a bold statement of independence as the company shifts away from reliance on external software providers. With HarmonyOS NEXT, Huawei aims to offer users a seamless and secure mobile experience that sets it apart from the competition.

As Huawei continues to push boundaries and redefine the smartphone industry, the Mate 70 series stands out as a testament to the company’s unwavering commitment to innovation and excellence. With its impressive performance and cutting-edge features, Huawei is set to solidify its position as a global leader in the world of technology.

TAGGED:ChineseGiantHuaweiRevenuesanctionsSurgestelecomU.S
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