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Huawei Report Profit, Smartphone Revenues Grow 44%

Huawei Report Profit, Smartphone Revenues Grow 44%

Chinese smartphone player Huawei has released its 2016 financial report, revealing the company shipped 130 million smartphones globally over the course of the year.

Overall, the company posted a net profit of approximately $5.38 billion in US dollars, a growth of 0.38% on the previous year.

Revenues increased 32% year on year while operating profit also rose 3.78%.

Huawei broke down this result with the company’s Telecom Carrier Business Group accounting for 55.7% of revenues while the Consumer Business Group accounted for only 34.5% of revenues.The remaining 7.8% came from their Enterprise Business Group.

Interestingly, the company’s report also highlights a significant investment in research and development during 2016, totalling 14.65% of Huawei’s consolidated revenues.

Eric Xu, Huawei Rotating CEO, said that “In 2016, Huawei maintained its strategic focus and achieved solid growth. As humanity continues to explore and make new breakthroughs in the digital world, digitization and increasing intelligence present huge business opportunities for all industries, and are also paving the road for new growth for the ICT industry.”

“We will stay customer-centric and will support digital transformation in all industries, in order to create value for our customers and to grow sustainably.”

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