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Fortune
Fortune
Lionel Lim

Huawei's 2024 revenue exceeded $118 billion and the company is thriving despite U.S. sanctions

Huawei Will Wong United States Ivan Lam Washington D.C. IDC
(Credit: Chen Jimin—China News Service/VCG via Getty Images)

China tech darling Huawei is thriving, having “adapted” to Washington’s sanctions with continued successes in smartphones, EVs, semiconductors and other leading-edge technologies.

Huawei’s revenue reached 860 billion yuan ($118.1 billion) in 2024, a 22% increase, according to remarks on Wednesday by chairman Howard Hua Liang. Huawei typically reports its revenue as part of its annual report, released in March. 

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