China smartphone revival
An acceleration in Huawei's consumer business also aided its revenue figures. The consumer business raked in sales of 339 billion yuan, a 38.3% rise and a sharp acceleration from the growth seen last year.
Huawei, once the world's biggest smartphone player, saw its smartphone business in particular crushed by U.S. sanctions that restricted its access to key chips and Google software.
From the end of 2023, however, a semiconductor breakthrough in China allowed Huawei to regroup and release high-end phones that have sold very well domestically.