Despite being blacklisted by the US for national security reasons, Nvidia still acknowledges Huawei as one of its greatest competitors, making this recognition a second year straight.
Huawei was not listed on Nvidia’s competitor for three prior years. However, the Chinese company is now among Nvidia’s top competitors in several categories, such as chips, cloud services, computing processing and networking products.
Jensen Huang, CEO of Nvidia, stated in an interview with CNBC that China is pushing its competition, while Huawei and other companies have become very active and competitive.
Back in 2019, Huawei lost its access to US technology, from 5G chips to Google’s Android operating system. This restriction caused the company’s revenue to lose its growth rate in 2020 and dropped by 29% in 2021.
However, the comeback happened in 2023 when the company released its Mate 60 Pro in China, which offers download speeds associated with 5G. Still, its revenue only rose 17% year on year to 251.5 billion yuan in 2023, the growth only slightly above half of the peak in 2020.
Nevertheless, Huawei made a record push when the company launched the Mate 70 smartphone series in 2024, which uses HarmonyOS NEXT, its first fully self-developed operating system. Its revenue that year reached 860 billion yuan, 22% higher than in 2023 and also the fastest growth since 2016.
