Huawei has announced its business results for the first half of 2024, with the overall performance in line with the expected forecast.
In H1 2024, Huawei generated CNY 417.5 billion in revenue, with a year-on-year (YoY) increase of 34.3% and a net profit margin of 13.2%.
"Moving forward, we'll 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,” said Eric Xu, Huawei's Rotating Chairman.
The surge in sales in the first half of the year came despite Huawei’s struggles under the weight of U.S. sanctions, which have cut off the company’s access to global supply chains for technology and U.S.-made components.
Despite a reduction in smartphone production, Huawei refocused on sectors such as software, enterprise computing, and even electric vehicles with its AITO brand.
At present, Huawei remains the world's leading equipment manufacturer for 5G, and a leading vendor within the 5G-Advanced era.
Huawei’s Industry Impact During H1
Huawei has built a strong presence in the Middle East and Africa for over two decades. Steven Yi, President of Huawei, MECA, told Telecom Review that they have “worked with carriers and partners across the Middle East and Central Asia to accelerate digital transformation and facilitate customers’ business success to prepare for an intelligent era.”
In the cloud department, Huawei Cloud showcased its industry-leading intelligent and simplified cloud-native security solutions during GISEC Global 2024 in Dubai. These solutions protect entities across the Middle East and Central Asia against sophisticated cyberattacks.
Huawei Cloud is known to deliver advanced cloud services, provide local support, and foster an open collaborative ecosystem. Leveraging these factors, Telecom Egypt and Huawei Cloud joined forces in May 2024 to launch Huawei’s first locally-based public cloud platform in Egypt and Northern Africa.
At MWC 2024, Huawei's remarkable achievements were celebrated on a global scale at MWC24, receiving accolades spanning multiple sectors including energy efficiency, network performance, intelligent wireless solutions, 5G deployment, and sustainable development.
During a fruitful discussion at the event, both du and Huawei expressed that they are jointly exploring further possibilities in the 5G-Advanced era. du unveiled its commercial 5G-Advanced network in February 2024 and released its 5G-Advanced strategy in collaboration with Huawei.
In a separate interview, James Zeng, President of Huawei’s Microwave Product Line, shared insights into the fundamentals of 5.5G connectivity and Huawei’s pivotal role in its implementation. To harness the ultra-high speeds and ultra-low latency of 5.5G, Huawei has invested in advancing materials, production processes, hardware design, core technologies, and ICT talent development.
Earlier this year, Huawei Technologies and Hamad Bin Khalifa University (HBKU) inaugurated the Huawei HBKU AI ICT Academy Lab, a fusion of innovation and education, solidifying the company’s pursuits in technological advancement and nurturing talent in the fields of AI and ICT.
Building on its decades of experience in network planning and optimization, Huawei has also developed a spatiotemporal digital twin that utilizes data modeling to integrate geographical, network, experience, and satisfaction dimensions.
Read More:
Huawei Outlines 5.5G Thailand Roadmap
Huawei Tackles the ICT Skills Gap in the Middle East and Central Asia with Seeds for the Future 2024
BNET, Huawei to Scale Fiber Broadband Services in Bahrain
