TAIPEI -- Huawei Technologies said on Monday its automotive business surged nearly sixfold in 2024, while its consumer business, including smartphones, rose more than 38% despite tighter U.S. export controls aimed at curbing China's tech advancements.
Technology
Huawei's automotive revenue up nearly sixfold despite U.S. clampdown
Full-year net profit dips 28% amid ongoing 'future oriented' investments
Huawei's research and development spending reached a record 179.7 billion yuan in 2024, equal to 20.8% of its total revenue. © Reuters
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