Huawei has reported revenue of 417.5 billion yuan or $58.85 billion for the first half of 2024 thanks to smartphone business.
Huawei generates revenue from telecom network to mobile operators, smartphones and enterprise networking. Huawei did not reveal the financial details for its main business units.
Huawei has achieved 34.3 percent increase in revenue and a net profit margin of 13.2 percent during January-June 2024. Net profit of Huawei for January to June climbed 18 percent to 54.9 billion yuan ($7.7 billion).
“We’ll continue driving high quality across all business processes, optimizing our portfolio to enhance business resilience, and building thriving ecosystems. Ultimately, our goal is to provide customers with even more competitive products and solutions,” said Eric Xu, Huawei’s Rotating Chairman.
Smartphone business
Research firm Omdia says Huawei has shipped 11.7 million smartphones in Q2 2024 and 13.1 million in Q1 2024 in global markets. Huawei has gained from the launch of the Mate 60 Pro and the Pura 70 series smartphones.
Research firm Canalys says Huawei has shipped 22.2 million smartphones in China during the first half, a 55 percent increase from a year earlier. Huawei will gain by incorporating technologies such as GenAI into products and services.
Canalys Senior Analyst Toby Zhu said recently: “China will be watching Huawei’s upcoming launch of HarmonyOS Next, as the vendor aims to position it as a third major mobile OS alongside Android and iOS.”
The annual report of Huawei shows that it generated 362 billion yuan (up 2.3 percent) from ICT infrastructure, 251.5 billion yuan (up 17.3 percent) from consumer, 55.3 billion yuan (up 21.9 percent) from cloud computing, 52.6 billion yuan (up 3.5 percent) from digital power and 4.7 billion yuan (up 128.1 percent) from intelligent automotive solution business in 2023.
Baburajan Kizhakedath
