2016 report card gives Huawei full marks on all fronts

Huawei’s carrier, enterprise, and consumer business groups (BG) have each achieved solid year-on-year growth, according to the company’s audited financial results for 2016.
The group’s annual revenue was $75.1 billion, an increase of 32 percent over 2015. Net profits rose to $5.3 billion, marking an increase of 0.4 percent.
In 2016, Huawei continued to invest in the future, with the company’s annual spending on research and development reaching $11 billion.
Eric Xu, Huawei rotating CEO, said: “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.”
He said they are also paving the way 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,” he added.
In 2016, Huawei’s carrier BG generated $41.8 billion in revenue — an increase of 24 percent 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 $5.9 billion in annual revenue — an increase of 47 percent.
Huawei’s consumer BG shipped 139 million smartphones during 2016, and reported $25.9 billion in annual revenue, up 44 percent.
Sabrina Meng, Huawei’s CFO, noted: “Huawei was operationally healthy in 2016, with ample cash reserves, a solid and sustainable capital structure and high resilience against risk. In 2017, we will continue to boost the efficiency and quality of our operations to ensure solid growth.”

Source: Arab News