Huawei exits ‘survival mode’ and prepares for record revenue
By ForGeeks After years of battling U.S. sanctions, Huawei is returning to growth and preparing to announce almost record revenue for 2024.
After years of struggling with U.S. sanctions, Huawei is returning to growth and preparing to announce almost record revenue for 2024.
Almost at 2020 levels
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The company’s annual revenue is expected to be 860 billion yuan (about 118 billion dollars). That’s nearly on par with the peak of 2020 (891 billion yuan), after which Huawei lost access to advanced technology and 5G chips.
The company went into survival mode then, but has adapted to the sanctions in recent years by relying on self-development in software, chip manufacturing and autonomous driving technologies.
New business lines
After losing access to key Western technologies, Huawei has expanded into alternative industries:
- Consumer Electronics: Huawei shipped more than 45 million smartphones in 2024, up 25% from a year earlier.
- Autonomous Industry: In cooperation with Chinese automakers, Huawei is promoting autonomous driving technology. The M7 and M9 models with the Huawei Drive system have become bestsellers.
- Infrastructure and Energy: The company develops energy storage systems for data centers and participates in building 5G infrastructure for industrial facilities.
HarmonyOS and the fight for independence
Founded without Android and Oracle, Huawei created its own OS – HarmonyOS, which now runs on over a billion devices. It also developed the ERP system MetaERP, which completely replaced its Western counterparts.
Withdrawal from sanctions?
Huawei founder Zhen Zhengfei said last year that China’s dependence on Western chips and software is decreasing. This is supported by the company’s success in developing its own AI chips, which are already competing with Nvidia.
All of this suggests that Huawei has not just survived, but has reclaimed its position in the global market. Now the company is ready for the next stage of growth.
