Huawei Revenue Rises 32%
March 31, 2017
released its audited financial results for 2016, reporting that its
Carrier, Enterprise, and Consumer business groups (BGs) each achieved
solid year-on-year growth. Group annual revenue was CNY521.6 billion
(US$75.1 billion), an increase of 32% over 2015. Net profits were
CNY37.1 billion (US$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 (US$11 billion).
Eric Xu, Huawei Rotating CEO, remarked, "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."
In 2016, Huawei's Carrier BG generated CNY290.6 billion (US$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.
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 (US$5.9
billion) in annual revenue, an increase of 47%.
Huawei's Consumer BG shipped 139 million smartphones during 2016, and
reported CNY179.8 billion (US$25.9 billion) in annual revenue, up 44%.
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