In Shanghai on February 5, Huawei's chairman announced that the company's annual revenue surpassed 860 billion yuan ($118.27 billion) last year. Despite U.S. sanctions, Huawei's consumer business rebounded, showing a growth trajectory. Liang Hua disclosed this information at a forum in Guangzhou, as reported by the Shenzhen Business Daily and confirmed by a Huawei spokesperson.

This revenue figure reflects a 22% year-on-year increase from 2023. Notably, Huawei experienced its most rapid growth in four years during that period. Looking forward, Liang stated, "In 2024, Huawei's overall operations are expected to perform well, with stable ICT infrastructure, a resurgence in the consumer business, and accelerated development in the smart car solution sector, resulting in annual sales revenue exceeding 860 billion yuan."

Despite facing challenges, Huawei's consumer business regained strength in August 2023 by unveiling new phones featuring domestically-produced chipsets that circumvented U.S. sanctions. Last year, Huawei seized a significant share of the Chinese smartphone market, surpassing Apple, according to data from Canalys.

(Note: Conversion rate: $1 = 7.2715 Chinese yuan renminbi)