Once written off as a casualty of U.S. sanctions, telecoms giant Huawei Technologies is showing that notices of its death may have been premature. From regaining its crown in China's smartphone market to taking a lead in the country’s smart car solutions, the company is defying tough odds using its own innovation and mostly homegrown Chinese technology.
The fruits of those efforts were reflected in some newly disclosed financials for 2024 given by Chairman Liang Hua at a meeting last week hosted by the Guangdong provincial government. At the meeting, Liang said Shenzhen-based Huawei generated 860 billion yuan ($118 billion) in revenue last year, up 22% year-on-year, and its second-highest total behind only the 891 billion yuan it earned in 2020.
https://www.scmp.com/tech/big-tech/article/3297540/tech-war-huaweis-2024-revenue-surges-22-cent-despite-us-sanctions