China's Huawei revenue rose at the fastest pace since 2016 last year, increasing by about 22 percent, posing a further threat to Apple's share. Revenue rose to 860 billion yuan ($118.2 billion) in 2024, the biggest revenue increase since the 32 percent rise recorded in 2016. Last year, Huawei's revenue was the company's second-highest ever, with 2020 at a record 891 billion yuan.
Since 2019, America has restricted the Chinese company's ability to access technology from American suppliers, at the level of advanced fifth-generation chips and Google's Android operating systems. As a result of these restrictions, Huawei's revenue barely rose in 2020 and fell by 29 percent in 2021.
Source (CNBC Arabia Website, Edited)
