Huawei witnessed a robust 34.3% increase in its revenue, reaching CNY417.5 billion ($58.8 billion) in the first half of this year. The company’s net profit also saw a rise to CNY54.9 billion, marking a 17.8% increase year-on-year. However, the profit margin declined slightly to 13.2% from last year’s 15%.
Eric Xu, Huawei’s rotating chairman, said, “Our overall performance was in line with forecast. Moving forward, we’ll continue driving high quality across all business processes, optimizing our portfolio to enhance business resilience, and building thriving ecosystems. Ultimately, our goal is to provide customers with even more competitive products and solutions.”
In comparison, Huawei recorded total revenues of CNY704.2 billion ($99.1 billion) in 2023 and net profits of CNY87 billion, which represented a 144.5% year-on-year growth. The company invested CNY164.7 billion into R&D, about 23.4% of its revenue. Over the past decade, Huawei has funneled CNY1.11 trillion into R&D, emphasizing their long-term commitment to innovation.
Earlier this year, Huawei unveiled what they claim to be the world’s first “5.5G” intelligent core network at MWC 2024 Barcelona. George Gao, president of Huawei cloud core network product line, emphasized that 2024 would be the inaugural year for commercializing “5.5G”, also known as 5G-Advanced.
Cao Ming, Huawei’s president of wireless solutions, mentioned that the initial investments in 5G network infrastructure by operators would remain safeguarded with the rollout of 5G-Advanced. This upcoming network evolution will utilize the existing 5G Standalone (SA) networks, circumventing the necessity for massive investments in new network infrastructure. Huawei is also collaborating with partners to ensure future 5.5G applications are compatible with current 5G networks.
In Shanghai, Huawei hosted the global launch of its 5G-A Pioneers program, gathering 5G operators from around the world, such as China Mobile, China Telecom, China Unicom, Hong Kong Telecommunications (HKT), UAE-based du, and Oman Telecommunications. They announced plans for 5G-A and discussed strategies to drive the development of 5G-A networks, aiming to open new market opportunities.
