Huawei Continues to Grow and Expand Market Share Despite U.S. Restrictions

Chinese tech giant Huawei achieved strong growth in 2024,
despite ongoing U.S. restrictions limiting its access to advanced technologies.
The company continued to gain market share from its competitor, Apple.

Contents

Huawei
JPMorgan
Eurozone

Huawei

Huawei’s Chairman Howard Liang announced during a local government conference that the company’s annual revenue surpassed 860 billion yuan ($118.27 billion) in 2024, representing a 22% growth compared to the previous year, according to Reuters.

Liang stated that Huawei’s consumer business has returned to growth, while its automotive solutions division is expanding rapidly.
Meanwhile, revenue from ICT (Information and Communications Technology) remained stable,
despite U.S. restrictions imposed since 2019, limiting the company’s access to advanced American technologies.

In a move to strengthen its technological independence, Huawei launched the Mate 70 smartphone series last year,
powered by HarmonyOS Next—the first fully self-developed operating system.
This highlights Huawei’s strategy to reduce reliance on foreign technologies.

JPMorgan

JPMorgan: Trade War Escalation Between the U.S. and China Seems Likely

JPMorgan issued a report on Wednesday, stating that uncertainty continues to cloud the future of the U.S.-China trade war.
However, the bank’s baseline scenario suggests that U.S. tariffs on Chinese imports—imposed by President Donald Trump—are likely to increase significantly.

The bank expects Washington to raise tariffs on Chinese goods to 60%,
heightening the risk of escalating trade tensions between the world’s two largest economies.

The report noted that while the scale and timing of future tariff hikes remain uncertain, escalation itself appears inevitable.
It also highlighted that geopolitical tensions, political developments in both countries,
and global economic trends will play key roles in shaping the next phase of the trade conflict.

Despite expectations of further protectionist measures, JPMorgan warned that the outlook remains highly unpredictable,
as any changes will depend on diplomatic negotiations and economic policy shifts in both nations.

Eurozone

Eurozone Retail Sales Weaker Than Expected in January

The European statistics office (Eurostat) released January retail sales data for the Eurozone on Thursday,
revealing weaker-than-expected performance.

According to the report, annual retail sales in the Eurozone grew 1.9% in January,
aligning with forecasts and surpassing December’s revised growth of 1.6%.

However, on a monthly basis, retail sales contracted by 0.2% in January, falling short of expectations.
The previous December reading, initially reported as a 0.1% increase,
was revised down to 0%, reflecting ongoing pressures on the retail sector amid an unstable economic environment in the Eurozone.

Huawei Continues to Grow and Expand Market Share Despite U.S. Restrictions

Huawei Continues to Grow and Expand Market Share Despite U.S. Restrictions

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