Huawei achieved global revenue of ¥288.2bn ($46.5bn) in 2014, an increase of 20.6% from the previous year, according to the company's latest financial report audited by KPMG.
Group net profit reached ¥27.9bn ($4.5bn), showing year-on-year growth of 32.7%, the vendor said. Huawei added that global financial performance was up across all business areas, which it attributed to business process efficiencies.
"Our strong revenue growth in 2014 can be attributed to a continuous focus on our pipe strategy, while profit increase stems from streamlined management and improvements in overall efficiency," said Ken Hu, deputy chairman of the board and rotating CEO.
"With heavy investment in innovations in areas such as cloud computing, big data, 5G, SDN and NFV, we believe we are well positioned to capture the tremendous business opportunities in this digital transformation era."
All three of Huawei's core business groups performed strongly in 2014. The company's Carrier Business Group saw global revenue increase by 16.4% to ¥192.1bn ($31bn), with a strong contribution from mobile broadband network rollouts around the world.
Meanwhile, Huawei's Enterprise Business Group saw revenue increase by 27.3% to ¥19.4bn ($3bn), with strong growth in network and IT areas including cloud data centre solutions and agile networks.
And thanks to strong growth in emerging markets, Huawei's Consumer Business Group saw revenue increases of 32.6% to ¥75.1bn ($12bn).
In terms of its Middle East performance, Huawei simply described the region as "significant".
"Today the Middle East remains one of the most rapid growth markets for Huawei globally as governments, enterprises, telecom operators, ?and consumers aspire to reap the benefits of technological progress," said Shi Yaohong, president of Huawei Middle East.?
"Whether it is connecting systems, businesses or societies across the Middle East, Huawei's widening breadth of solutions and consulting services are ultimately powering more intelligent cities that we believe will radically improve quality of life and transform the way people experience their world."