Huawei Technologies posted a first-quarter net profit of 19.65 billion yuan ($2.71 billion) on revenue of 178.45 billion, a filing showed on Tuesday.

Huawei Technologies’ net profit rose more than sixfold in the first quarter, helped by a jump in the Chinese telecommunication equipment maker’s smartphone sales in China.

Tech giant Huawei's first-quarter profits surged over fivefold year-on-year, a company filing showed Tuesday, as the US-sanctioned firm continues a rebound and bit into competitor Apple's sales in China.

Huawei’s first-quarter profits surged more than fivefold year-over-year, a company filing showed Tuesday, as the US-approved company continues its rebound and bites into Apple’s sales in the country.

Huawei's impressive Q1 2024 profits surge with net profit up 560% to $2.7B. Apple slips to No. 5 in China. US sanctions prompt diversification strateg

Huawei's smartphone business has recovered from US sanctions, with sales up as a high-end model took Chinese market share from Apple.

Huawei's Q1 net profit jumped 564% year-over-year to $2.7B as the company continues to claw back smartphone market share from Apple.

Huawei Technologies Co.’s profit rose for the fourth consecutive quarter, a sign the Chinese tech company is taking market share from Apple Inc. and other smartphone rivals.