Huawei’s profit grew by 564% in the first quarter of 2024, reaching $2.7 billion, Bloomberg reports, citing company reporting.
Device sales rose 37% in the first quarter to $24.5 billion. Smartphone sales grew 69.7%.
In the first quarter of 2024, Huawei captured 15.5% of the smartphone market in China. This is 0.2% less than Apple’s share.
The growth in sales of Huawei smartphones coincided with a decline in iPhone sales. Analysts believe that Huawei continues to displace Apple from the premium segment in China.
Last year, Huawei managed to set up production of 7nm processors with 5G, bypassing US restrictions. In particular, Huawei introduced the new Pura 70 series of flagships, which sold out in two days. [Bloomberg]
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Source: Iphones RU
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