Huawei 2016 Annual Report: Solid Growth and Sustained Investment in the Future

Telecommunication Press Releases Tuesday April 4, 2017 11:04
Bangkok--4 Apr--francom asia

Huawei today released its audited financial results for 2016, reporting that its Carrier, Enterprise, and Consumer business groups (BGs) each achieved solid year-on-year growth. Group annual revenue was CNY521.6 billion (US$75.1 billion), an increase of 32% over 2015. Net profits were CNY37.1 billion (US$5.3 billion), an increase of 0.4%. In 2016, Huawei continued to invest in the future, with the company's annual spending on research and development reaching CNY76.4 billion (US$11 billion).

Eric Xu, Huawei Rotating CEO, remarked, "In 2016, Huawei maintained its strategic focus and achieved solid growth. As humanity continues to explore and make new breakthroughs in the digital world, digitization 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 BG generated CNY290.6 billion (US$41.8 billion) in revenue, an increase of 24% 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 BG delivered ICT infrastructure to support the digital transformation of key vertical industries, including finance, energy, government bodies, and public safety. This business generated CNY40.7 billion (US$5.9 billion) in annual revenue, an increase of 47%.

Thanks to its increasingly innovative products and growing global recognition as a premium device brand, Huawei's Consumer BG shipped 139 million smartphones during 2016, and reported CNY179.8 billion (US$25.9 billion) in annual revenue, up 44%.

Sabrina Meng, Huawei's CFO, noted: "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."

Financial statements in the 2016 Annual Report are audited independently by KPMG.
To download the 2016 Annual Report, visit www.huawei.com/en/about-huawei/annual-report/2016
Note 1: All CNY figures in the Annual Report were converted into USD using the closing rate on December 31, 2016: US$1.00 = CNY6.9448.
Note 2: Growth rates are calculated based on CNY figures.

Latest Press Release

WISPA Members Vote Cambium Networks Winner for 3 Top Industry Awards

Cambium Networks , a leading global provider of wireless networking solutions, was awarded Manufacturer of the Year, Service of the Year for the cnMaestro (TM) management system, and Product of the Year for the PMP 450m wireless access network solution...

Penguin joining TOT in providing mobile phone services with nationwide coverage and becoming MVNO with various networks.

TOT Public Company Limited has teamed up with The WhiteSpace Limited, mobile phone service provider or Penguin SIM, for a mobile virtual network operator (MVNO) business model that will provide the best ever mobile phone service to Penguin customers on...

Photo Release: Thaicom provides continued support for distance learning via satellite

Thaicom PLC, led by Mr. Teerayuth Boonchote, Acting Chief Technical Officer (4th from left), presented Mr. Anusorn Foocharoen, secretary of the Thai Distance Learning Foundation (DLF) with a donation to help fund the foundation's work of making...

Cambium Networks announces new wireless broadband solutions to extend connectivity

- Gigabit long-range backhaul, cost-effective rural connectivity, rapidly deployable enterprise Wi-Fi extend connectivity to reach new opportunities Cambium Networks , a leading global provider of wireless networking solutions, today announced new...

Thaicom Divests CS Loxinfo Stake Sales to AIS is part of Thaicoms business transformation plan for the digital era

Thaicom Public Company Limited, one of Asia's leading satellite operators, announced the sale of CS Loxinfo Public Company Limited ("CSL")shares. Thaicom held 250,099,990 shares or 42.07% via its subsidiary, DTV Service Company Limited ("DTV") in CS...

Related Topics