Huawei achieves annual revenue of $92.5 bn

Huawei has achieved an annual revenue of $92.5 billion (based on year-end exchange rates) in 2017, an increase of 15.7% over 2016.

Net profits were $7.3 billion, an increase of 28.1% year-on-year. In 2017, Huawei’s annual investment in research and development reached $13.8 billion, up 17.4% compared with 2016. The company’s total R&D spend over the past decade has exceeded $60.4 billion.

Ken Hu, Rotating Chairman, Huawei said, “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 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.”

“As we look to 2018, emerging technologies like the Internet of Things, cloud computing, artificial intelligence, and 5G will soon see large-scale application,” added Hu.

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

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 $8.4 billion in annual revenue, an increase of 35.1% compared with 2016.

In Huawei’s consumer business, the Huawei and Honor brands ran full speed ahead, leading to rapid growth in their respective markets. Huawei shipped a total of 153 million smartphones (including Honor) in 2017, and reported $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.