Manufacturer sees profits hit £1.62 billion, with smartphone shipments surging 60 per cent to 32 million units
Hauwei has reported net profit of CNY15.38 billion (£1.62 billion) for 2012 – up 32 per cent from what it reported in the previous year.
Revenues were up eight per cent to CNY220.19 billion (£23.18 billion), while its consumer business, which includes smartphones, rose 8.4 per cent to CNY48.38 billion (£5.09 billion). Sales in EMEA increased 6.1 per cent to CNY37.4 billion (£3.94 billion).
Total annual shipments were 127 million units. This included 32 million smartphones that were shipped last year, up 60 pr cent from 2011.
Huawei said that it is forecasting growth of 10 per cent over each of the next five years until the end of 2017.
Last year it invested CNY 30.09 billion (£3.17 billion), or 13.7 per cent of its total sales revenue in research and development (R&D). The manufacturer has now established 16 R&D centres and 28 joint innovation centres globally.
Huawei rotating and acting CEO Guo Ping said: “In 2012, Huawei met business performance expectations through improved operational efficiency. Today, telecom networks are yet to meet the requirements for ubiquitous connections – zero wait time, ultra broadband, and smart applications.
“In the future, ICT will continue to grow, with new opportunities coming from cloud computing, BYOD (Bring Your Own Device), and big data, and feature phones being replaced by smartphones at a faster rate.
“Huawei will continue to focus on its pipe strategy, integrate and develop businesses around the information pipe, and create value for customers, while achieving sustainable and effective growth.”