Huawei’s income jumps 22% YoY in 2024, units new report regardless of US sanctions – Firstpost

Huawei Applied sciences has defied US sanctions, reporting a powerful income of over 860 billion yuan (US$118.3 billion) for 2024. This represents a 22 per cent enhance in comparison with the 704.2 billion yuan recorded in 2023. The robust efficiency highlights Huawei’s resilience and strategic give attention to innovation regardless of ongoing commerce restrictions from Washington.

Howard Liang Hua, Huawei’s chairman, famous that the corporate’s operations met expectations, pushed by development in each its shopper electronics and sensible automobile options divisions. Though this 12 months’s income didn’t surpass Huawei’s all-time excessive of 891 billion yuan in 2020, it stands because the second-highest within the firm’s historical past, underscoring its regular restoration because the imposition of sanctions.

Navigating US sanctions and R&D investments

Since being positioned on the US commerce blacklist in 2019, Huawei has confronted tightened restrictions, notably in accessing superior semiconductors that depend on American know-how. These measures have considerably impacted its cell phone and world operations. In response, the tech big has been doubling down on analysis and improvement to scale back its reliance on overseas know-how.

Regardless of these efforts, the corporate skilled a drop in web revenue through the first 9 months of 2024, down by 13.7 per cent to 62.9 billion yuan. Analysts attribute this decline to Huawei’s elevated capital spending on R&D as a part of Beijing’s push for technological self-sufficiency. Since its founding in 1987 by Ren Zhengfei, Huawei has change into a central determine in China’s technique to counter US restrictions and develop homegrown technological capabilities.

AI enlargement and business recognition

Huawei’s technological ambitions proceed to advance, notably within the discipline of synthetic intelligence (AI). Its cloud-computing division not too long ago partnered with DeepSeek, making superior AI fashions obtainable to customers by way of Huawei’s Ascend cloud service. Based on the corporate, these fashions match the efficiency of these working on top-tier world graphics processing items (GPUs), reinforcing Huawei’s competitiveness within the AI area.

Chairman Liang emphasised that AI is quickly evolving and getting into an important stage of adoption throughout a number of industries. His remarks had been echoed by Guangdong Communist Celebration chief Huang Kunming, who counseled Huawei’s position in empowering industries by way of digital know-how. Huang highlighted DeepSeek’s AI fashions, asserting that they’ve challenged established American tech giants with a daring and fearless strategy.

Future prospects amid challenges

Huawei’s capability to realize such exceptional development in 2024, regardless of dealing with important world restrictions, demonstrates its adaptability and long-term imaginative and prescient. By prioritising R&D and diversifying into sectors resembling cloud computing, AI, and sensible automotive options, the corporate is positioning itself as a frontrunner in China’s tech ecosystem.

As AI adoption accelerates globally, Huawei’s continued give attention to innovation will seemingly play a pivotal position in shaping the way forward for know-how, each in China and past.