Huawei launched the Mate 70 series at an event held at Deep Shenzhen on November 26th, 2024. This phone will first run Huawei’s new operating system called Hurnyos Next.
HUAWEI
BEIJING – China’s telecommunications and smartphone giant Huawei continues to grow from Apple and gain market share despite restricting access to its high-end technology.
Chairman Howard Liang said Huawei’s revenue exceeded 860 billion yuan ($11.827 billion) in 2024, according to local state media. Huawei did not comment when contacted by CNBC.
This is a 22% spike in revenues since 2023, and the fastest growth since 2016, according to CNBC calculations of published figures. Huawei usually publishes its annual report in March.
Liang spoke at a local government meeting and, according to CNBC translation of the Chinese report, considers Huawei’s consumer business as “rapid development” which sees “returning to growth” and “rapid development.” I explained that there was. He said Huawei’s information and communications technology business (the largest segment of revenue) “has remained stable.”
Since 2019, the US has limited Huawei’s ability to access technology from American suppliers, from advanced 5G chips to Google’s Android operating system.
Huawei’s revenues narrowly rose in 2020, falling sharply in 2021 by nearly 29%. That consumer segment was hit hard. The peak of 2020.
According to Canalys data, Huawei smartphone shipments in mainland China skyrocketed 37% last year, rising from fourth to second place in market share. Known for its budget price devices, Vivo ranks number one in market share in 2024, data shows.
Telecommunications companies began to make a comeback in the smartphone market in 2023 with the release of the Mate 60 Pro in China. The review provided a device that provides download speeds associated with 5G thanks to advanced semiconductor chips.
Just a year later, Huawei launched its Mate 70 smartphone series, which uses the company’s first fully developed operating system, Harmonyos Next.
