Huawei reports solid performance for 2017 with a 28% increase in profits

Huawei's Carrier business group generated $45.7 billion in revenue in 2017, an increase of 2.5% YoY, focusing on helping global carriers maximise the potential of their existing network assets
Ken Hu, Huawei's rotating chairman, released Huawei 2017 Annual Report
Ken Hu, Huawei's rotating chairman, released Huawei 2017 Annual Report

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Huawei's recently released audited financial results highlight solid business growth of the company in 2017. 

The company's total annual revenue was CNY603.6 billion ($92.5 billion based on year-end exchange rates), an increase of 15.7% over 2016. Net profits were CNY47.5 billion ($7.3 billion), an increase of 28.1% year-on-year.

In 2017, Huawei's annual investment in research and development reached CNY89.7 billion ($13.8 billion), up 17.4% compared with 2016. The company's total R&D spend over the past decade has exceeded CNY394 billion ($60.4 billion).

"We're on a new journey," said Ken Hu, Huawei's rotating chairman. "Opportunities and challenges are popping up faster than ever before, and nonstop open innovation is the only way we can keep ahead of the game.

"Over the next 10 years, Huawei will continue to increase investment in technological innovation, investing more than 10 billion dollars back into R&D every year. We will actively pursue open collaboration, attract and cultivate top talent, and step up efforts in exploratory research. We want to better enable all industries to go digital and intelligent."

Hu added: "As we look to 2018, emerging technologies like the Internet of Things, cloud computing, artificial intelligence, and 5G will soon see large-scale application. Throughout this process, Huawei will stay at the forefront of technological innovation and business transformation. More importantly, we will pay special attention to the practical challenges that our customers face as they go digital. Our job is to help them overcome these challenges and achieve business success. Ultimately, we aim to bring digital to every person, home and organisation for a fully connected, intelligent world."

In 2017, Huawei's Carrier business group generated CNY297.8 billion ($45.7 billion) in revenue, an increase of 2.5% year-on-year, focusing on helping global carriers maximise the potential of their existing network assets and seize new opportunities in video, IoT, and cloud markets.

By the end of 2017, Huawei had conducted 5G pre-commercial tests with over 30 leading carriers in more than 10 cities around the world.The company's revenue from Europe, the Middle East, and Africa (EMEA) increased by 4.7% year-on-year. 

Huawei's Enterprise business group enhanced innovations in cloud, big data, campus networks, data centers, IoT, and other domains, and drove extensive application of its products and solutions for a range of vertical industries. In 2017, Huawei's enterprise business generated CNY54.9 billion ($8.4 billion) in annual revenue, an increase of 35.1% compared with 2016.

Huawei shipped a total of 153 million smartphones (including Honor) in 2017, and reported CNY237.2 billion ($36.4 billion) in annual revenue, up 31.9% year-on-year.

Huawei set up a Cloud Business Unit in 2017, which launched 99 cloud services across 14 major categories, and over 50 solutions. The company also unveiled the Enterprise Intelligence (EI) platform, and developed over 2,000 cloud service partners.

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