Islamabad, Apr 2, 2025: Huawei, the renowned Chinese technology conglomerate, recorded an impressive revenue of 862.1 billion yuan (approximately $120.1 billion) in 2024, reflecting a significant surge from 704.2 billion yuan in the previous year, as outlined in its latest annual financial report.
The company secured net earnings of 62.6 billion yuan last year, aligning with market projections, the report revealed.
This strong financial performance underscores Huawei’s consistent growth and resilience in the tech industry.
In 2024, Huawei allocated 179.7 billion yuan towards research and development (R&D), constituting about 20.8% of its yearly revenue.
Over the last decade, the company’s cumulative investment in R&D has surpassed 1.249 trillion yuan, emphasizing its commitment to innovation and technological advancements.
By the end of 2024, Huawei’s research and development division had expanded to approximately 113,000 personnel, representing 54.1% of its total workforce.
The company also held over 150,000 valid patents globally, showcasing its strong intellectual property portfolio.
The annual report highlighted key achievements, particularly Huawei’s advancements in the computing sector.
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With a decade of groundwork in this domain, the company capitalized on emerging artificial intelligence opportunities, leading to notable growth and expansion.
Huawei’s consumer electronics division has also regained momentum, achieving historic breakthroughs in the development of its HarmonyOS ecosystem.
HarmonyOS, also known as Hongmeng in Chinese, is an open-source operating system crafted by Huawei.
Additionally, the company’s intelligent automotive solutions turned profitable for the first time in 2024, marking a milestone in its expansion into the smart vehicle sector.
Huawei remains committed to fostering an open technological ecosystem by enhancing platform capabilities and equipping developers with user-friendly tools across various sectors, including HarmonyOS, Kunpeng, Ascend, and cloud computing.
Meng Wanzhou, Huawei’s rotating chairwoman, reiterated the company’s vision to support its ecosystem partners with innovative solutions.
Headquartered in Shenzhen, Huawei is a global leader in information and communication technology (ICT) infrastructure and smart devices.
Since 2021, the company has reported consistent revenue growth, with global sales figures reaching 636.8 billion yuan in 2021, 642.3 billion yuan in 2022, and 704.2 billion yuan in 2023.
The continued upward trajectory underscores Huawei’s robust market position and strategic expansion efforts.
