China’s telecom major Huawei today said it posted $2.47 billion net profit last year, recording about $35 billion in revenues.
The Shenzhen-based telecom firm, which has now spread all over the world, including India, forecast a compound annual growth rate of 10% over the next five years.
Huawei achieved steady business growth, recording sales revenues of 220.19 billion Yuan (about $35 billion) and net profit of 15.38 billion Yuan ($2.47 billion), the company said in a statement.
Huawei said it logged robust growth across all three of its business groups (BGs).
The Carrier Network BG maintained its leadership position, achieving 160.1 billion Yuan (over $25 billion) in sales revenue, an increase of 6.7 per cent year-on-year, it said.
The Enterprise BG continued to grow in the Chinese market and actively expanded internationally, achieving 11. 5 billion Yuan in sales revenue, a 25.8% increase from the previous year.
The Consumer BG’s global sales revenue reached 48.4 billion Yuan, an increase of 8.4 year-on-year.
Rapid growth in Europe, the Middle East, and Africa (EMEA) contributed record regional sales revenue of 77.4 billion Yuan.
In the Asia Pacific region, sales revenue was 37.4 billion Yuan (Over $six billion) an increase of 7.2 year-on-year; in the Americas, sales revenue was 31.8 billion Yuan (over $five billion), an increase of 4.3 per cent year-on-year.
Huawei generated hefty 73.6 billion Yuan (over 11.8 billion) revenue from China, an increase of 12.2 per cent year-on-year.
Huawei has invested 30.09 billion Yuan, (over $4.96 billion) or 13.7 per cent, of its total sales revenue into research and development (R&D).
The company has established 16 R&D centres and 28 joint innovation centres across the world, the statement said.