Huawei sees net profit up 32.7 percent on year on year

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Huawei's growth has been helped by strong demand for smartphones in ChinaHuawei's growth has been helped by strong demand for smartphones in China
Huawei's growth has been helped by strong demand for smartphones in China

China’s leading telecom equipment and solution provider Huawei announced on Tuesday its net profit grew 32.7 percent year on year in 2014, to 27.9 billion yuan (about 45 billion US dollars).

Huawei's growth has been helped by strong demand for smartphones in ChinaHuawei's growth has been helped by strong demand for smartphones in China
Huawei’s growth has been helped by strong demand for smartphones in China

The company reaped 288.2 billion yuan (about 46.5 billion dollars) of sales revenue from the global market last year, up 20.6 percent year on year. In a breakdown, its revenue from telecom operator business rose 16.4 percent year on year, to 192.1 billion yuan (about 31 billion dollars); its revenue from enterprise business reached 19.4 billion yuan (about 3.1 billion dollars), up 27.3 percent year on year; and its revenue from consumer business reached 75.1 billion yuan (about 12.1 billion dollars), up 32.6 percent year on year.

Meanwhile, the company invested 40.8 billion yuan (about 66 billion dollars) in research and development, rising 29.4 percent year on year and representing 14.2 percent of its annual sales revenue. In the past ten years, Huawei’s investment in research and development accumulated to over 190 billion yuan (about 307 billion dollars).

Source: Xinhua Finance

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