US EditionHuawei 2024 revenue surges to near-record high as China smartphone comeback takes hold
- Chinese smartphone giant Huawei, based in Shenzhen, reported a 28% fall in profits for 2024, despite a surge in revenue.
- Huawei's profit decrease was attributed to increased investment in future-oriented technologies and the absence of gains from business sales.
- While net profit decreased to 62.6 billion yuan from 87 billion yuan in 2023, revenue rose 22% to 862.1 billion yuan , driven by ICT infrastructure, consumer products, and cloud computing.
- Sabrina Meng, Huawei's rotating chairwoman, stated that the company's results were "in line with forecast" and highlighted employees tackling external challenges while remaining committed to quality.
- Since 2019, Huawei has been at the center of a US-China standoff, with US sanctions impacting Huawei's access to US-made components and technologies due to espionage concerns, which Huawei denies, and leading to scrutiny in Europe over alleged bribery of EU parliament members to influence policies.
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China's telecoms giant Huawei Technologies says its profit fell 28% while revenue surged in 2024
Chinese telecoms gear giant Huawei says its net profit fell 28% in 2024 while its revenue surged, as the company invested heavily in advanced technologies.
·United States
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Total News Sources84
Leaning Left6Leaning Right8Center12Last UpdatedBias Distribution46% Center
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