Huawei reported 2017 annual revenue was CNY603.6 billion (US$92.5 billion based on year-end exchange rates), an increase of 15.7% over 2016. Net profits were CNY47.5 billion (US$7.3 billion), an increase of 28.1% year-on-year.
Some highlights:
- R&D spending reached CNY89.7 billion (US$13.8 billion), up 17.4% compared with 2016.
- The Carrier business group generated CNY297.8 billion (US$45.7 billion) in revenue, an increase of 2.5% year-on-year
- The enterprise business generated CNY54.9 billion (US$8.4 billion) in annual revenue, an increase of 35.1% compared with 2016.
- The consumer business group generated CNY237.2 billion (US$36.4 billion) in annual revenue, up 31.9% year-on-year.Huawei shipped a total of 153 million smartphones (including Honor) in 2017.
- The Cloud business unit, which was set up in 2017 now offers 99 cloud services across 14 major categories, and over 50 solutions.
“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 organization for a fully connected, intelligent world.”