Home > Industry > Huawei Boosts Aussie Takings

Huawei Boosts Aussie Takings

Chinese technology giant Huawei posted a 32.7 percent lift in revenue in Australia in 2015, rising from $484 million to $642.2 million at the end of December.

A breakdown of the revenue saw the sale of goods contribute $499.1 million; services contributed $116.2 million; and construction accounted for $26.9 million. Net assets stood at $49.66 million, rising by 40 percent from the $35.48 million reported in December 2014, while cash and cash equivalents were $36.52 million, up by 60.6 percent from last year’s $22.74 million.

But R&D funding was down. Huawei Australia last year spent $8.25 million on R&D, down 18.1 percent from the year before, when it spent $10.077 million.

Globally, Huawei recorded a net profit of US$5.7 billion, up 33 percent year-on-year on revenue of $60.8 billion, which was largely attributed to its consumer business.

You may also like
Huawei Attempts To Buy Political Favour In The US
US Finalises Huawei Rip And Replace Rules
Huawei’s Harmony OS 2 Already Dominating Chinese Tech
Huawei Poaches International Talent To Beat US Sanctions
NSW Rolls Out Business Lockdown Support As Retail Calls For Consistency