Tech giant Huawei's profits surged by over five times year-on-year in the first quarter of 2024, a company filing showed Tuesday, as the firm continues a rebound and bit into competitor Apple's sales in China.

Net profit in the January-March period amounted to $2.7 billion, up 564 percent from the first quarter of last year, according to a results filing by Huawei's holding company on an official website and confirmed by a representative of the firm.