Huawei helped out $ 118 billion last year – much more Xiaomi, but less than Apple in one quarter

Remaining a private company, Huawei Technologies is not obliged to regularly publish financial reporting, so the dynamics of key indicators becomes public only with the presentation of representatives of the leadership. The current chairman of the board of directors of Huawei Liang Hua said that last year the company’s revenue exceeded $ 118 billion.

Image source: Huawei Technologies

These statements by the head of the Chinese giant, for more than five years under the sanctions of the United States, were made on the forum in Guangzhou. The specified revenue means that compared with 2023, the corresponding financial indicator increased by 22 %. For the company 2023, it was a period of the rapid growth of revenue over the previous four years. Accordingly, the results of 2024 at least supported the trend and showed that the Huawei business is able to develop in the conditions of preserved sanctions.

According to the chairman of the board of directors, in key areas of activity, the results of 2024 will justify the forecasts of the leadership of Huawei, the business in the field of information and computer technology will retain stability, the consumer sector will return to growth, and the direction of smart cars will grow rapidly. All this together allows us to count on the exceeding the annual revenue of the amount of $ 118.27 billion.

For comparison, Apple received $ 124.3 billion revenue in the last quarter. When compared with Chinese companies, then, for example, Xiaomi was able to help out $ 35.33 billion in the first three quarters of 2024 – for the fourth quarter and this Chinese manufacturer has not yet reported for the whole last year.

Last year, according to Canlys, Huawei managed to occupy 16 % on the domestic smartphone market in China and bypass Apple. This statistics are partly confirmed by the statements of the leadership of Huawei.