Huawei's 2024 Annual Report highlights a resilient performance amid a challenging global landscape. The tech giant reported revenue of 862.1 billion yuan and a net profit of 62.6 billion yuan, underscoring its steady commitment to innovation and growth.
A pivotal element of this success is its bold strategy in research and development. In 2024, the company dedicated 179.7 billion yuan—accounting for 20.8% of its annual revenue—to R&D. Over the past decade, cumulative investments have reached an impressive 1.249 trillion yuan, fueling breakthroughs in connectivity, computing, and intelligent automotive solutions.
Despite prevailing industry headwinds, Huawei's connectivity business maintained a steady pace, while its computing sector thrived with accelerated developments in Artificial Intelligence. The device business is also on the rebound, bolstered by the expanding HarmonyOS ecosystem, and intelligent automotive solutions have now become profitable.
Further cementing its leadership in tech innovation, Huawei has built a robust patent portfolio with over 150,000 active granted patents. The company's focus on deepening core ecosystems and fostering open collaboration empowers developers and drives product and service excellence across platforms such as HarmonyOS, Kunpeng, Ascend, and cloud computing.
In a confident press release, rotating chairperson and chief financial officer Meng Wanzhou affirmed that the results met forecasts. She highlighted the collaborative spirit of the team in overcoming external challenges, reinforcing Huawei’s role as a benchmark for innovation in emerging tech markets.
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Huawei reports solid 2024 performance, driven by R&D investment
cgtn.com
