[Photo/Agencies] Huawei released its 2024 annual report on Monday, announcing global revenue of 862.1 billion yuan ($121.7 billion) and a net profit of 62.6 billion yuan. The company invested 179.7 billion yuan in research and development (R&D) last year, accounting for 20.8 percent of its total revenue.
Huawei has posted a drop of 13.7% in 9-month net profit. The tech giant has earned 62.87 billion yuan ($8.83 billion) in the first three quarters of 2024. Whereas, last year’s profit was 72.89 billion yuan ($10.23 billion). The company shared its financial report via the Shanghai Clearing House website.
Yet the company managed to deal with every situation and came out with flying colors. The executive further said that Huawei revenue has reached over $118 billion (860 billion yuan) in 2024. It is an increase of 22% YoY. For reference, the tech giant recorded 704.2 billion yuan in sales revenue in 2023 with the fastest growth.
A Huawei sign is displayed at their stand at the MWC (Mobile World Congress), the world''s biggest mobile fair, in Barcelona on March 3, 2025. [Photo/Agencies] Huawei released its 2024 annual report on Monday, announcing global revenue of 862.1 billion yuan ($121.7 billion) and a net profit of 62.6 billion yuan.
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A Huawei sign is displayed at their stand at the MWC (Mobile World Congress), the world''s biggest mobile fair, in Barcelona on March 3, 2025. [Photo/Agencies] Huawei released …
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