Huawei annual revenue increases 32% to $75.1 billion
Staff Writer | March 31, 2017
Huawei released its audited financial results for 2016, reporting that its Carrier, Enterprise, and Consumer business groups (BGs) each achieved solid year-on-year growth.Article continues below
Group annual revenue was CNY521.6 billion ($75.1 billion), an increase of 32% over 2015. Net profits were CNY37.1 billion ($5.3 billion), an increase of 0.4%.
In 2016, Huawei continued to invest in the future, with the company's annual spending on research and development reaching CNY76.4 billion ($11 billion).
In 2016, Huawei's Carrier BG generated CNY290.6 billion ($41.8 billion) in revenue, an increase of 24% year-on-year.
This was achieved by focusing on digital transformation and leveraging major opportunities in cloud, video, the Internet of Things, and operations transformation for carrier customers.
Working in close collaboration with its partners, Huawei's Enterprise BG delivered ICT infrastructure to support the digital transformation of key vertical industries, including finance, energy, government bodies, and public safety.
This business generated CNY40.7 billion ($5.9 billion) in annual revenue, an increase of 47%.
Thanks to its increasingly innovative products and growing global recognition as a premium device brand, Huawei's Consumer BG shipped 139 million smartphones during 2016, and reported CNY179.8 billion ($25.9 billion) in annual revenue, up 44%. â– What to read next
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