Huawei has not just survived US trade restrictions but emerged stronger, defying expectations with a robust financial comeback.
The Chinese technology giant reported a revenue of 860 billion yuan ($118.1 billion) in 2024, marking a 22% increase from the previous year.
The resurgence, driven by advancements in semiconductors, consumer electronics, cloud computing, and intelligent vehicles, underscores Huawei’s ability to navigate geopolitical challenges while maintaining a competitive edge.
Once on the defensive due to Washington’s sanctions, Huawei has now repositioned itself as a leader in China’s push for technological self-reliance.
The company’s continued investments in domestic chip production, cloud services, and automotive technology indicate that it is no longer just competing—it is shaping the future of China’s tech industry.
Huawei’s post-sanctions expansion fuels growth
Huawei’s success is no longer just about smartphones. While its Mate 60 series helped the company regain lost ground in the high-end mobile market, its expansion into semiconductors, cloud computing, and electric vehicles has been just as critical.
The company has strategically invested in research and development to circumvent US technology restrictions, shifting towards homegrown alternatives for chips and operating systems.
One key example is its Ascend AI chips, which are now powering China’s artificial intelligence sector.
Reports suggest that DeepSeek, a Chinese AI startup, has integrated Huawei’s Ascend chips into its latest AI models.
This move signals Huawei’s growing influence in an industry dominated by Nvidia and other Western firms.
Meanwhile, the launch of HarmonyOS Next, an upgraded version of its independent operating system, is gaining traction among Chinese developers.
Companies like Alibaba and Xiaohongshu are already building native applications, further reducing reliance on Google’s Android.
US sanctions failed to halt Huawei’s innovation
The US government blacklisted Huawei in 2019, blocking its access to critical semiconductor technology.
This led to a sharp revenue decline in 2021 and 2022, but Huawei adapted quickly.
Instead of retreating, the company doubled down on supply chain restructuring and domestic chip manufacturing.
By late 2023, Huawei had successfully developed its own advanced 7nm chips, challenging Washington’s restrictions.
The re-entry into the premium smartphone market saw Huawei outselling Apple in China, with a 16.6% market share compared to Apple’s 15.6%, according to IDC data from January.
Beyond smartphones, Huawei’s ICT infrastructure segment remains a stronghold.
The company continues to lead China’s 5G expansion, with its networking equipment playing a crucial role in domestic and international markets.
Huawei eyes leadership in intelligent vehicles
Huawei’s ambitions extend far beyond electronics.
The company is making a major push into autonomous driving technology, partnering with leading Chinese automakers.
On Thursday, Huawei announced a collaboration with GAC Group to enhance intelligent driving capabilities, aiming to compete with Tesla and other global EV manufacturers.
This marks a significant shift in Huawei’s strategy—leveraging its expertise in artificial intelligence, connectivity, and software to transform China’s automotive landscape.
With smart vehicles becoming increasingly dependent on software-driven solutions, Huawei’s investments in AI-powered driving systems could place it at the centre of China’s electric vehicle industry.
Despite ongoing geopolitical tensions, Huawei has demonstrated resilience by evolving into a technology powerhouse that extends far beyond smartphones.
The company’s ability to innovate despite restrictions highlights the shifting global tech landscape, where China is rapidly closing the gap with Western competitors.
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