Huawei revenue rises at fastest pace since 2016 on the back of consumer segment growth

Huawei, the Chinese telecommunications and smartphone giant, saw a 22% increase in revenue to over 860 billion yuan in 2024, despite U.S. restrictions on accessing high-end technology. Chairman Howard Liang highlighted growth in the consumer and car solutions businesses, while the information and communications technology segment remained stable. Since 2019, Huawei has faced limitations on technology access from American suppliers, impacting its ability to utilize advanced 5G chips and Google’s Android operating system.

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