Huawei's Revenue Soars Despite US Sanctions
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Huawei announced a 22.4% surge in 2024 revenue, reaching $118.2 billion, driven by its telecommunications and consumer businesses. While net profit decreased by 28% due to increased investments, the company's growth was fueled by the rollout of 5G and 5.5G networks and a resurgence in its smartphone sales in China, reaching a 16% market share. This success follows a period of US sanctions, though overseas expansion remains challenging due to limited access to key technologies.
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