Huawei revenue soars 34.3% in H1 2024, thanks to strong smartphone sales

Huawei smartphone revenue has touched new heights in H1 2024. The tech giant has generated a net profit of $7.7 billion in the first half of this year – thanks to the booming 5G phone sales. The company has also earned profit in other business units.

As per the details, Huawei recorded the highest revenue growth after 2020, the same period. The company has been slammed by the U.S. ban due to security concerns which ultimately pushed it down in the market. But the situation is finally favorable.

Inputs reveal that Huawei smartphone revenue for H1 2024 has surged the net profit to 18%, resulting in $7.7 billion (54.9 billion yuan). The company has made 417.5 billion yuan in revenue from January to July 2024, which is a rise of 34.3% YoY.

Last Year…

Compared to last year’s same period, Huawei’s total revenue for the first-half sales has jumped from 310.9 billion yuan to 417.5 billion yuan ($58.6 billion).

Huawei didn’t reveal the exact figure for every business unit. But a company’s spokesperson said that Huawei’s phones, notebooks, and tablets, performed extremely well in the consumer market and remained at the top of the demands list.

Huawei revenue soars 34.3% in H1 2024, thanks to strong smartphone sales (Image Credits: Huawei)

In the first half of this year, the company sold around 22.2 million phones in China which is a hike of 55.2% from the last year’s sales. This progress made Huawei enter the top 5 rankers in the smartphone business. Apart from devices, the smart car solutions unit has also received immense support in the consumer world.

Despite the U.S. trade export controls and advanced chip production issues, the company is reaching new heights day by day. After the Mate 60 Pro, the OEM introduced devices like Pura 70 models and MateBook X Pro that raised the bar of innovation.

The Rotating Chairman of Huawei – Eric Xu says:

“Our overall performance was in line with expectations. Moving forward, we will 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.”

[Source]