• Huawei is expected to report that its revenues have returned to nearly the levels they were at before the US crippled its business with heavy sanctions.
• Analysts say that the sanctions forced Huawei to adapt and become self-sufficient.
• The company’s recent forays into self-driving technology has been a hit in China.

Chinese technology giant Huawei is expected to announce that it has returned to the revenues last seen before heavy sanctions from the United States were imposed on the company, throttling profits for the past five years.

According to a report from Reuters, Huawei is finally emerging from the “survival mode” it was in previously and is set to “claim triumph” over the United States, which banned it from partnering with Google and Oracle, and banned it from buying American semiconductor technology.

Its recent revenues were driven by its multitudes of business lines, including its software business, progress in chips and recent forays in smart-driving technologies. The report says that Huawei is set to announce end-year 2024 revenues of $118 billion, nearly as much as it did during its peak revenues of $122.7 billion in 2020 when the US began its sanctions.

One major sector that saw Huawei return to its peak revenues was its consumer business, which was cut in half after US bans began. Huawei’s mobile business was significantly throttled by the departure of Google and its pulling of Android OS, but the company has made a name for itself by finding alternative solutions to US mainstays.

Software-wise, last year, it released a version of its homegrown operating system, Harmony OS Next, which doesn’t support any Android apps at all as the company moves towards its own alternatives. It even has a powerful AI to match Google Gemini.

Unfortunately, the OS is only available to Chinese users, with international rollouts still in the offing, but these efforts saw Huawei phones climb back onto the top 10 in the Chinese market, claimed to be one of the most competitive smartphone markets in the world.

Outside of its mobile business, the company has seemingly invested in every potential tech product imaginable. These include cloud computing, energy solutions, processors, as well as hydraulic mechanisms to protect data centres from earthquakes and tsunamis.

“Huawei has already shown incredible resilience in the face of this national state-led effort, and this process has arguably forced Chinese firms across the IT stack to become more innovative and collaborative,” said analyst Paul Triolo, a partner at DGA-Albright Stonebridge Group.

In its attempt to stall the growth of Huawei, the United States instead formed a global tech powerhouse that is self-reliant and one that is finding its own partnerships. Huawei invests significantly in South Africa, and in other countries across the continent.

Recently, the company began projects into electric vehicles (EV) in its home country, partnering with China’s Seres Automobile to bring Huawei-branded driver assistance systems to the vehicles. Sales have reportedly tripled in some models since the partnership.