China’s Huawei boosts revenue 32% for 2016

 Group annual revenue was CNY 521.6 billion yuan (Bt2.5 trillion), an increase of 32 per cent over 2015. Net profits were 37.1 billion yuan, an increase of 0.4 per cent. In 2016, Huawei’s annual spending on research and development reached 76.4 billion yuan.
Eric Xu, Huawei rotating CEO, said: “In 2016, Huawei maintained its strategic focus and achieved solid growth. As humanity continues to explore and make new breakthroughs in the digital world, digitisation and increasing intelligence present huge business opportunities for all industries, and are also paving the road for new growth for the ICT industry. 
“We will stay customer-centric and will support digital transformation in all industries, in order to create value for our customers and to grow sustainably.”
In 2016, Huawei's carrier unit generated 290.6 billion yuan in revenue, an increase of 24 per cent year on year. This was achieved by focusing on digital transformation and leveraging major opportunities in cloud, video, the Internet of things, and operations transformation for carrier customers.
Working in close collaboration with its partners, Huawei's enterprise unit delivered ICT infrastructure to support the digital transformation of key vertical industries, including finance, energy, government bodies, and public safety. This business generated 40.7 billion yuan in annual revenue, an increase of 47 per cent.
Huawei's consumer division shipped 139 million smartphones in 2016, and reported CNY179.8 billion yuan in annual revenue, up 44 per cent.
Sabrina Meng, Huawei's chief financial officer, said: “Huawei was operationally healthy in 2016, with ample cash reserves, a solid and sustainable capital structure, and high resilience against risk. In 2017, we will continue to boost the efficiency and quality of our operations to ensure solid growth.”