The company published the Q3 2024 financial report. It shows Huawei’s overall sales and profit journey over the past nine months. While the tech giant has scored well in the sales section, it has significantly dropped in net profit this time.

Huawei sales jumped 16% (YoY) to $23.7 billion (168.4 billion yuan) in September 2024. The total revenue in the first three quarters is 585.9 billion yuan.

Last year, the company made a sales revenue of 452.3 billion yuan, in the same period. This time, Huawei grew by 29.5% achieving big success in sales.

Although the company’s net profit has slightly declined compared to 2023. Huawei has posted a drop of 13.7% in 9-month net profit. The tech giant has earned 62.87 billion yuan ($8.83 billion) in the first three quarters of 2024. Whereas, last year’s profit was 72.89 billion yuan ($10.23 billion).

The company shared its financial report via the Shanghai Clearing House website. It hasn’t revealed the breakdown of its sales hike or net profit drop. Yet the figure shows that Huawei has to work more to fight against its rivals in the market.

Huawei reports sales jump of 16% in first three quarters this year (Image Credits: Bloomberg)

A recent report by IDC highlighted a 42% shipment growth of Huawei’s smartphones. Meanwhile, the demand for Ascend AI chips is gradually increasing in China as an alternative to Nvidia processors. The tech maker is also expanding its smart car solution business with advanced techs and more partners.

These seem some of the reasons behind Huawei sales growth of 16% in the first three quarters. Speaking of R&D investment, the company has raised the R&D expenses to 127.412 billion yuan. It is a year-on-year increase of 10.80% and accounts for 21.75% of the revenue. The only lag is net profit with a 13.2% margin.

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IDC recently released the Q3 2024 Chinese smartphone market report. It’s an analysis of how tech vendors performed in sales for the third quarter of this year.

Speaking of the top three rankers of the market in Q3, Vivo grabbed first place whereas the iPhone maker and Huawei ranked second and third respectively.

Apple has been edged out from the top 5 Chinese phone listing last time. But somehow, it has entered the space again. That could be due to the iPhone 16 series glowtime. Despite a comeback, the company faced a 0.3% decline in sales.

Huawei on the flip side, continued to roar in smartphone sales and surpass Apple in China. The company occupies 15.3% of the market share while its shipment progress has increased by 42.%. It is ahead of Apple sales in the third quarter, this year.

Regardless of a spot ahead, Apple is suffering in the Chinese smartphone market. Why so? Well, here are the reasons that summarize the fall of the iPhone maker.

1. Huawei Pura 70 series: A creative invention!

The flagship lineup launched in April this year. The name itself created a huge buzz among consumers as they were expecting the “P-70”. Another amazing part is the camera design. Unlike the P60, the Pura 70 adopted a new triangular lens framework.

Retractable lens of Pura 70 Ultra gives a Pro photographer-like feel to users. Also, the satellite image-sending capability increased the excitement of the Pura 70 series to a whole new level.

• Huawei Pura 70 series shipments crossed 6.5 million units

Although the years-ago design of the iPhone continues without any major changes. iPhone 16 appears as an exception with some sweet color options.

Huawei Pura 70 Ultra (Image Credits: Huawei)

2. Mate 60 series, still in demand

Huawei Mate 60 series was launched last year but still has the same craze as at the release time. The Pro variant continues to rule the Chinese smartphone market for its significant features, Kirin 9000s chipset, and satellite calling capability.

3. China is supporting Huawei

Of course, the home ground is now having back of Huawei. Many Chinese firms prohibited the use of iPhones on the premises, following government norms. The aim is to use the least U.S. products as they continue to impose strict sanctions on the country.

Apart from Huawei, other competitors like Honor, Xiaomi, and Vivo are trying to stop Apple from gaining a foothold in the Chinese smartphone ground.

These reasons are probably affecting Apple iPhone’s sales in China. It’s not like Apple isn’t doing good. Many Chinese consumers still prefer iPhones rather than any other handset. Yet, the company has to make more effort to achieve success in China.

Standard Apple iPhone 16 (Image Credits: Apple)

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IDC report shows that Huawei surpassed Apple in the Chinese smartphone sales ranking for Q3 2024. The analysis also counts some other tech giants with their progress and falls in the Chinese consumer market for the third quarter of this year.

Apple and Huawei made their way into the top five rankers list. The former grabbed second spot whereas the latter ranked third. Despite a rank ahead, Apple’s yearly iPhone sales dropped to 0.3%, achieving 15.6% of the market share in Q3 2023.

Huawei achieved third place in Q3 2024 with a market share of 15.3%. It’s just 0.3% less than that of Apple and increased by 4.3% from the last year (same period).

Regarding progress, the company excelled in the Q3 2024 Chinese phone sales ranking with 42.0% YoY. It’s the largest figure among all the top 5 rankers. This is the fourth consecutive quarter that Huawei continued to progress with double-digit sales.

Huawei’s growth over Apple is the result of booming sales of the Mate 60 and Pura 70 series. Both flagship lineups have been shining like stars in the Chinese smartphone market since their launch. You can check Pura 70 shipment details HERE.

Q3 2024 Chinese smartphone sales report (Image Credits: IDC)

On the flip side, the Chinese authorities and firms constantly prohibited the use of iPhones in the country. This step affected the sales of the iPhone in the market.

Apple unveiled iPhone 16 models in September but the shine of this series also faded, following Huawei’s tri-fold phone. It looks like the Chinese OEM continues creating problems for the iPhone maker in every possible way it can.

Speaking of other rankers, Vivo caught the first place with 18.6% market share and 21.5% YoY growth. Xiaomi is in fourth place with a 14.8% market share and 12.8% YoY progress. Honor is last with 14.6% shares but a lag of 22.5% YoY annual growth.

Together, these rankers boosted Chinese smartphone shipments by 3.2% YoY (68.8 million units in the third quarter of this year). Arthur Guo, the senior research analyst at IDC China says:

“A significant wave of device upgrades is propelling the sustained recovery of the Chinese smartphone market. Despite ongoing challenges, consumers are highly motivated to purchase new smartphones after three years of pent-up demand.”

Q3 2024 Chinese smartphone sales report (Image Credits: IDC)

|| Source – IDC ||

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Wall Street Journal reports that the Huawei Pura 70 series shipments have crossed 6.5 million units. The OEM launched the respective lineup in April this year, bringing it to global markets in May. On both sides, the devices performed well in sales.

Huawei has expected to ship 10 million units of Pura 70 models this year. Based on the current revelations, it seems the Chinese tech giant could achieve the shipment goal by the end of 2024, marking a new milestone in the smartphone market.

The Pura 70 smartphones have been giving a tough bang to Apple iPhones in China. It significantly affected the iPhone 15 series sales in the Chinese smartphone market due to its impressive camera design, high-end features, and Kirin 5G chip.

During the HarmonyOS NEXT launch event, Huawei announced that the Pura 70 series sales in the first three quarters increased by 154%. This rise has eventually boosted the company’s flagship smartphone shipment by 71% year-on-year.

Huawei Pura 70 series shipments crossed 6.5 million units (Image Credits: MyDrivers)

Huawei Consumer Business Group Chairman – Yu Chengdong says that the Pura 70 series shipment has upgraded the level of the company in the competition.

Despite U.S. sanctions, the tech giant continued to adopt advanced techs and features for its devices. Kirin 9010 5G for Pura 70 Ultra is the best example of this scenario. It uproots on 7nm process but offers optimized performance over previous chips.

The company is also ditching foreign components to a significant extent, supporting its native suppliers. A teardown reveals that Pura 70 series has more China-made parts than the Mate 60 smartphones and other previous-gen handsets.

Huawei is pacing slowly but steadily in the smartphone race. After the Pura 70 series, consumers have locked their eyes on the Mate 70. It would be worth seeing what major changes the next lineup will bring to boost Huawei’s sales revenue.

Huawei Pura 70 Ultra (Image Credits: Huawei/X)

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A smart chip consultant recently shared the sales aspect of Huawei Mate 60 series models. The company launched the flagship lineup last year. And it’s still buzzing in the market with the same excitement – thanks to its top-of-the-line capabilities.

The input reveals that the high-end Mate 60 models: Pro+ and RS Ultimate Design didn’t perform well in the sales. These have the lowest sales figures among all four variants. A major reason is their high price which didn’t attract many customers.

For reference, the starting price of the Mate 60 Pro+ is 8999 yuan whereas, the Ultimate Design model ranges from 11999 yuan. Meanwhile, there isn’t much difference in the features or tech capabilities, except for the design and materials.

Also, the Mate 60 Pro+ and RS Ultimate Design constantly struggled with stock supply. Despite an ultra-premium price, when users tried to purchase the models, the company extended the shipment wait on both online as well as offline stores.

Huawei Mate 60 Pro sales reportedly higher than other Mate 60 models (Image Credits: Weibo)

On the other hand, Mate 60 Pro has been at an effective price. Also, its 5G capabilities and satellite calling tempted customers’ towards it. The tipster reveals that after 13-14 months of launch, Huawei Mate 60 Pro sales are higher than the combined sales of all three models (Standard, Pro+, and RS Ultimate Design).

Mate 60 Pro sales record is 4.1 times higher than the combined sales of the other three variants. That says, Mate 60 Pro is still highly competitive and in-demand model in the Chinese smartphone market. But the company has not confirmed this news.

A previous input revealed that the device has surpassed 10 million units in sales. Huawei has now lowered the price of the Mate 60 series on the Vmall ahead of the Mate 70 series launch. Users have the chance to grab the model at an amazing discount.

Huawei drops Mate 60 series price ahead of Mate 70 launch

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As per the details, Huawei recorded the highest revenue growth after 2020, the same period. The company has been slammed by the U.S. ban due to security concerns which ultimately pushed it down in the market. But the situation is finally favorable.

Inputs reveal that Huawei smartphone revenue for H1 2024 has surged the net profit to 18%, resulting in $7.7 billion (54.9 billion yuan). The company has made 417.5 billion yuan in revenue from January to July 2024, which is a rise of 34.3% YoY.

Last Year…

Compared to last year’s same period, Huawei’s total revenue for the first-half sales has jumped from 310.9 billion yuan to 417.5 billion yuan ($58.6 billion).

Huawei didn’t reveal the exact figure for every business unit. But a company’s spokesperson said that Huawei’s phones, notebooks, and tablets, performed extremely well in the consumer market and remained at the top of the demands list.

Huawei revenue soars 34.3% in H1 2024, thanks to strong smartphone sales (Image Credits: Huawei)

In the first half of this year, the company sold around 22.2 million phones in China which is a hike of 55.2% from the last year’s sales. This progress made Huawei enter the top 5 rankers in the smartphone business. Apart from devices, the smart car solutions unit has also received immense support in the consumer world.

Despite the U.S. trade export controls and advanced chip production issues, the company is reaching new heights day by day. After the Mate 60 Pro, the OEM introduced devices like Pura 70 models and MateBook X Pro that raised the bar of innovation.

The Rotating Chairman of Huawei – Eric Xu says:

“Our overall performance was in line with expectations. Moving forward, we will 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.”

[Source]

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The phone maker announced yesterday that Huawei’s latest flip-flop has surpassed 45000 units within 72 hours of its release. Compared to the Pocket S folding handset in the same period last year, Huawei Nova Flip foldable sales have risen by 85%.

Further details reveal that this ultimate sales record of the Nova Flip has increased the company’s small foldable market share by 70%. Thanks to various AI fun features, the unique square cover screen, thin design, and HarmonyOS 4.2 software support.

This is a new milestone for the company in the field of clamshell products. It shows that the company is steadily growing in both standard and folding phone markets.

With many new specs and smart AI capabilities, the device has started winning hearts in the consumer market. After China, the company might bring this clamshell product to global customers to strengthen its position in the overseas market.

Huawei Nova Flip beats Pocket S sales record by 85% in 72 hours of launch (Image Credits: Weibo)

Nova Flip Feature & Specifications

Nova Flip is a thinner foldable compared to its rivals the Xiaomi Mix Flip and Galaxy Z Flip 6. It comes in four colors: Grass Green, Zero White, Sakura Pink, and Starry Black. Consumers can also pick mini bags and phone cases for the new foldable.

Powered by the Kirin 8000 chip, the device sports a 6.94-inch and a 2.14-inch OLED cover screen with 1440Hz high-frequency PWM dimming, a 120Hz refresh rate, and a 300Hz touch sampling rate. The visual effects are better than predecessors.

For camera, the device brings a two-lens arrangement on the rear side with a 50MP main snapper and an 8MP wide-angle lens. Users can enjoy features like 10x digital zoom, several shooting modes, and an upgraded Portrait Engine for clearer selfies.

The front side holds a single punch-hole design with an 8MP selfie lens. Nova Flip packs a 4400mAh battery with 66W fast charging support and Turbo 2.0 capability. It runs on HarmonyOS 4.2 and brings various fun features for the system and cover screen.

Users can turn on Call Fun Display, Cute Pet, Custom Style, or Interactive Themes to glorify the external display. The device also supports Smart AI elimination, cutout feature as well as Intelligent Communication 2.0.

Huawei Nova Flip foldable image (Image Credits: Huawei)

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Although Mate 60 Pro is still the reason that helped Huawei regain its position in the Chinese smartphone market. But with the launch of the Pura 70 series, the company is now becoming capable of having a better foothold in its home ground.

Research organizations like Canalys and Counterpoint note that Pura 70 models are gaining extreme attention in Chinese smartphone market. Among the four main models, the Pura 70 Ultra is at the top for its interesting design and iconic optical features.

With the P series, Huawei has always focused on enhancing the camera aspects. But the Pura 70 series appears as an all-time revolution in the photography world.

Huawei Pura 70 Ultra camera (Image Credits: Huawei)

Starting with the Ultra variant, Huawei has used a retractable lens that pops out every time the user tries to capture a closeup shot. It has a tri-lens setup including a 50MP Sony IMX989 1-inch main camera, a 40MP ultrawide shooter, and a 50MP periscope lens.

• Main Camera: f/1.4-4.0 variable aperture + 22.5mm focal length
• UltraWide Angle: 13mm focal length + Autofocus + macro shots
• Periscope: f/2.1 aperture + OIS + 3.5x optical zoom + lossless zoom to 10x
• Selfie Lens: 13MP + 18mm f/2.4 aperture + autofocus

Huawei has also implemented an XD Motion engine that enables users to click fast-moving objects with immense clarity. These are the features that made the Pura 70 Ultra one of the best camera smartphone to date. (Check the DXOMARK ranking)

Except for the retractable lens, most of these lens features are present in other Pura devices as well. Perhaps, Huawei Pura 70 Ultra has set the bar of camera features for many of its rivals like Samsung and others in the smartphone market.

Huawei Pura 70 Ultra (Image Credits: Huawei)

Keeping our focus on the Chinese variants, the Pura 70 series also sports upgraded satellite features. Huawei introduced “image-sending” satellite tool with the latest flagship line. From the name, the feature lets you send images via satellite connectivity.

Compared to many other satellite communication phones, Huawei is one step ahead. After two-way satellite SMS and calls, the company has brought in image-sending capability. But Pura 70 series surprises don’t end here!

AI segment is another interesting part of the Pura lineup. Huawei has introduced an AI image retouch feature that easily edits and removes unwanted objects from pictures. Other features include AI gestures and AI private notifications.

These are the major Pura 70 series features that are attracting users in the Chinese smartphone market. With an iconic triangular camera shape, new AI tools, and the most robust optical features, the Pura 70 series is helping Huawei smartphone sales to increase in its home ground.

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Counterpoint has published the China smartphone sales report for Q2 2024. As per the details, the Chinese market has grown by 6% in the second quarter of this year.

The report highlights the top 6 tech vendors that contributed to the rise of the Chinese smartphone market in Q2 2024. Among them, Vivo, Apple, and Huawei count in the top three rankers with increased market shares and better sales performance.

Huawei captured a 15.4% share of the Chinese smartphone market and ranked third. The figure is still below the mark the OEM set in 2020 (30%). Yet the consistent growth hints the company is taking better steps to recover its smartphone business.

Counterpoint further notes that Huawei sales have jumped 44.5% YoY in China for Q2 2024. The credit for this new achievement goes to Pura 70 and Nova 12 series.

Pura 70 series at Huawei stores (Image Credits: Huawei/X)

Pura 70 smartphones debuted in April this year. The new lineup shows a perfect combination of art and technology, compared to other P series models. Meanwhile, Huawei made these handsets more valuable with AI features and upgraded satellite communication tech.

Nova 12 series, on the other hand, continues to impress the mid-range market. Users looking for upgraded technologies can pick the Pro and Ultra variants. Whereas, those who need a device for normal daily tasks can purchase the Standard and Lite version.

Other rankers

Speaking of other rankers, Vivo has secured the top position with 18.5% of the market share and 11.1% YoY growth. Apple ranked second with a drop of 5.7% in sales. The iPhone 15 Pro shares increased in Q2 2024, but seems it didn’t help the OEM much.

Xiaomi is in fourth place with a growth of 16.3% YoY. Honor and OPPO appeared at fifth (7.5% YoY increase) and sixth (9.8% YoY decrease) positions respectively.

Counterpoint states that AI has become a significant top among tech makers. OEMs are trying to use smart features for both premium as well as mid-range segments. Perhaps, we may find more AI-powered creations in the second half of this year.

China smartphone sales Q2 2024 report (Image Credits: Counterpoint)

[Source – Counterpoint]

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Canalys released new data on the Chinese smartphone market for Q2 2024. The Q2 2024 analytics show that iPhone shipment are still facing challenges from Huawei in China regardless of various discounts and promotions on shopping channels.

Inputs reveal that Apple sold 9.7 million units as of June end. Last year in the same period, the company shipped over 10.4 million units. Thus, the new figure has brought the iPhone maker down from third to sixth position in the second quarter of this year.

On the other hand, Huawei continues to grow in Chinese smartphone market for Q2 2024. The report says that the firm shipped 10.6 million units in the second quarter which boosted the growth rate by 41% YoY – thanks to the Pura 70 series.

The OEM unveiled the Pura 70 lineup in April this year. The flagship models are full of surprising features that resulted in long queues of customers outside Huawei stores. Some highlights of this series are the image-sending satellite feature, Kirin 9010 5G, powerful cameras, distinct appearance, AI features, and more.

Chinese smartphone market Q2 2024 report (Image Credits: Canalys)

Speaking of the market share, Apple dipped from 16 to 14% this year. As per Canalys research analyst – Lucas Zhong, the US company is still struggling to improve its supply chain management in China. Though a good status, Apple can’t catch up with the growing tech companies in its third-largest smartphone market.

Another reason Apple can’t stand firm on the Chinese floor is the intense competition from other tech vendors. Lucas cites that Chinese phone makers continue to show leadership as they have occupied the top five positions for the first time.

Canalys Report

Further details point out Vivo has ranked first with 19% of the market share and 15%YoY progress. OPPO appears second in this ranking with 11.3 million units in sales. Honor grabbed third place with a 4% YoY growth and 10.7 million unit shipments.

Huawei obtained fourth place. It is gradually reaching new heights and will soon climb to the top of the Chinese smartphone market. Canalys predicts a strong performance by the company throughout the year. Fifth place is reserved by Xiaomi with 17%YoY growth.

Chinese smartphone market Q2 2024 report (Image Credits: Canalys)

|| Source – Canalys ||

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