Ren Zhengfei, a former officer of the People’s Liberation Army, founded Huawei (pronounced Wah-Way) in 1987. Since then, the Shenzhen, China-based company has become one of the world’s largest smartphone makers next to Apple (AAPL) and Samsung.

Huawei also makes other consumer electronics and builds communication equipment and infrastructure. It has become a 澳洲幸运5开奖号码历史查询:multinational giant with over $118 billion in revenue in 2024.

Despite impressive growth, Huawei remains a private entity fully owned by company employees. That means the company is not traded on any public market and that people other than current employees cannot invest in it. Despite the inability to invest in Huawei, investors may still want to keep an eye on one of the world’s largest 澳洲幸运5开奖号码历史查询:smartphone producers.

Where Does (and Where Doesn’t)𒊎 Hu♕awei Do Business?

Beyond making smartphones, Huawei builds consumer electronics such as tablets and wearable technology, 澳洲幸运5开奖号码历史查询:telecommunications netw🀅orks and services, and provides solutions to enterprise customers. As of 2025, Huawei had 207,000 employees in more than 170 countries. It conducts th🐻e majority of its business in China and EMEA (Europe, the Middle East, Africa, and the Asia-Pacific regio𒆙n).

While it’s helpful to know where Huawei does business, it’s far more telling to know where it doesn’t. Global skepticism about Huawei has grown following a 2012 congressional report that first highlighted the security risks of using the company’s equipment.

In addition, while the company claims that it is 100% owned by employees, U.S. officials are skeptical that the Chinese government and the Communist Party might be calling the shots at Huawei. A Chinese law requiring Chinese companies to assist in national intelligence networks, passed in 2017, added to those concerns.

Many companies have already ceased using Huawei products. In January 2018, large U.S. mobile companies like stopped using Huawei🧔’s products in their networks. In August 2018, Australia decided not to use the company’s technology as it builds out ꦯits . In November 2018, New Zealand prevented Spark, one of the country’s biggest telecom companies, from using . Despite these governmental roadblocks, Huawei can still conduct business with private companies in each of these countries.

In December 2018, Canadian officials arrested Meng Wanzhou, the chief financial officer of Huawei and the daughter of the company’s founder, on the request of the U.S. government. On Jan. 28, 2019, the U.S. government officially filed a formal request for her extradition, alleging that she violated U.S. sanctions against Iran. The U.S. also banned Huawei from doing business with U.S. companies due to the sanctions violations.

In September 2021, the U.S. Department of Justice announced it had reached a deal with Wangzhou to resolve the case via a deferred prosecution agreement. She agreed to a statement of facts that said she had made untrue statements to HSBC to enable transactions in the U.S., at least some of which supported Huawei’s work in Iran in violation of U.S. sanctions, but she didn’t have to pay a fine or plead guilty to charges. In December 2022, the presiding judge dismissed the charges against Wangzhou following the U.S. government’s request.

In June 2019, then-President Donald Trump lifted the restrictions on Huawei as part of ongoing U.S.-China 澳洲幸运5开奖号码历史查询:trade war negotiations. Nevertheless, Huawei announced plans to cut 600 jobs in Santa Clara, California, and, by December 2019, decided to move the center to Canada.

On Nov. 12, 2020, Trump signed an executive order forbidding U.S. investors from investing in companies that he designated “Communist Chinese military companies.” The ban took effect on Jan. 11, 2021, and included Huawei and 30 other companies.

In November 2021, then-President Joe Biden signed into law the Secure Equipment Act of 2021, intended to prevent companies like Huawei that are deemed security threats from receiving new equipment licenses from U.S. regulators.

How Does Huawei Make Money?

Huawei operates in the carrier, enterprise, and consumer segments of the market. Because the company is not public, it is not traded on any stock market and is not required to submit filings to the U.S. 澳洲幸运ﷺ5开奖号码历史查询:Securities ⛄and Exchange Commission (SEC). The company still reports its n♎umbers on a regular basis, however.✤

In its 2023 annual report (the most recent annual data available), Huawei said that total revenue was $99.4 billion, up 9.6% from a year earlier. Profits jumped 15.4%.

Huawei reported that business in China—by far its largest market—rose 16.7% in 2023. Business in the Asia Pacific region fell 14.6%, it fell 2.6% in EMEA, while its business in the Americas—the smallest market—rose 10.9%.

U.S. restrictions have hampered Huawei’s ability to access computer chips and software from American suppliers and prevented it from selling its telecommunications gear to U.S. customers. Despite this, the company made a comeback in the smartphone market in 2023 with the release of its high-end Mate 60 smartphone line, powered by an advanced chip that it made together with China’s Semiconductor Manufacturing International Corp. (SMIC).

Why Can’t You Invest in Huawei?

Huawei is 澳洲幸运5开奖号码历史查询:privately held by the company's China-based employees only, but anyone working for the company outside of China cannot buy into the company. The company’s shareholders admit, however, that they don’t understand the company’s structure, are not provided updated information on their holdings, and have no voting power. Thirty-three union members elect nine candidates to attend the annual 澳洲幸运5开奖号码历史查询:shareholder meeting. S🐟hareholders receive dividend payments, and they have the potential to earn bonuses based on performance. Their salaries also are reviewed on an annual basis.

In 2014, upper management at Huawei was asked if it would consider a stock market listing, but the idea was rejected. Huawei’s debut on the public market can’t be completely ruled out in the future, though, especially if the company is in need of additional capital in the future. It’s not likely that Huawei could lisꩵt in the Uniteꦓd States, p🦋ar🤪tly because of its poor relationship with the country and the company’s growing reputation for using technology to spy on users.

As far as investing in Huawei goes, right now there’s only one potential solution—but it’s far-fetched. In order to receive 澳洲幸运5开奖号码历史查询:dividends, you would have to become an employee of theꦫ company in Shenzhen, and you would have to ma🎀ke management believe you aren’t a spy. Good luck.

The Bottom Line

Huawei is one of the world’s largest smartphone makers. The Chine♛se company is 100% owned by employees and has never had a public offering, despite its growth. U.S. investors are forbidden from investing in Huawei, and American suppliers are prevented from selling computer chips and software to Huawei.