Huawei Reports 2011 Revenue of $32.4 Billion as Company Embarks on Business Transformation
Increased investments in R&D, Enterprise and Consumer businesses buoy 11.7% growth in revenue year-on-year, with R&D investments up 34.2% to $3.76 billion
May 21, 2012 9:21 by mercadod
Huawei, a leading global information and communications technology (ICT) solutions provider, has released its audited full-year 2-11 financial results noting sales revenues of CNY 203.9 billion (US$32.40 billion)–an 11.7% growth over the previous year. Huawei also reported net profits of CNY 11.6 billion (US$1.85 billion) in line with the company’s revenue expectations.
Huawei continued to grow and consolidate its market presence globally in 2011, generating sales revenues of CNY 65.57 billion (US$10.43 billion) from the domestic Chinese market, up 5.5%; and recording sales revenues of CNY 138.4 billion (US$21.98 billion), an increase of 14.9%, from overseas markets.
Huawei’s 2011 business performance was buoyed by particularly impressive growth achieved by its Consumer and Enterprise business groups.
“In 2011, Huawei increased its investment in the enterprise and consumer business segments, and achieved all-around growth on the back of strong business momentum generated by the company’s successful transformation into a complete end-to-end ICT solutions provider,” said Mr. Ken Hu, Rotating and Acting CEO, Huawei. “We have made strategic investments, augmented our R&D capabilities and deployed these resources globally, and implemented a future-oriented business architecture that puts Huawei in a confident position for sustained growth.”
Huawei boosted its investment in R&D to CNY 23.7 billion (US$3.76 billion), a year-on-year increase of 34.2%. The significant commitment to innovation, which represents 11.6% of total annual sales revenues, is a core pillar of Huawei’s business strategy.