Huawei Technologies recorded more rapid growth in sales and net income in the first quarter of 2024. This growth is driven by a strong return to the smartphone market.

A regulatory document released on Tuesday indicates that the >Huawei's net profit jumped by 564.04% year-on-year (year-on-year) to RMB 19.65 billion ($2.71 billion) in the first quarter, and this quarter's revenue grew by 36.66% year-on-year to RMB 178.45 billion. According to the figures,

According to the annual report, the consumer business, which includes smartphones and electric vehicles (EVs), generated 251.5 billion RMB with a growth of 17.3% year on year, and cloud services and digital energy also showed a double-digit growth of 12.91% with annual sales of 55.3 billion RMB.