Huawei Consumer Business Returns to Growth

With infrastructure sales remaining robust in 2024, Huawei’s consumer business returned to growth in 2024. The company reported a total revenue of CNY860 billion ($110.6 billion). Annual revenue growth reached 22%.

Despite many external uncertainties, Huawei chair Liang Hua insisted during a speech in the city of Guangzhou the shift to digital and more intelligent services as well as a low-carbon economy is certain, the newspaper stated. “Huawei will continue to increase its strategic investment and bring better products and services to global customers.”

The chairman noted its smart vehicle business is developing rapidly. He explained the company is tapping the expertise gained from developing advanced communication infrastructure to accelerate its capabilities in other sectors. Huawei invested heavily in the automotive sector after being hit by a wave of US trade restrictions. Its smart car unit last August was valued at $16 billion following two domestic companies acquiring a combined 10% stake.