Huawei braves the storm as Europe, Middle East and Africa remains the Chinese technology giant’s biggest market outside of Beijing.
by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – HUAWEI has reported a 19,1 percent increase in global sales revenue to CNY858,8 billion (US$120,98 billion) in 2019.
Its net profit reached CNY62,7 billion and cash flow from operating activities topped CNY91,4 billion, up 22,4 percent year-on-year.
Among other highlights, Huawei invested 15,3 percent of its 2019 revenue – or CNY131,7 billion – back into research and development (R&D).
Its total R&D spend over the past decade now exceeds CNY600 billion.
Eric Xu, Huawei’s Rotating Chairman described 2019 as an “extraordinary” year for the Chinese company.
“Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers,” he said.
This is in apparent fallout with the United States of America (USA) over some allegations dismissed as trumped up.
“We worked hard to earn their (customers’) respect and trust, as well as that of our partners around the globe. Business remains solid,” Xu said.
In 2019, Huawei’s carrier business led the commercial rollout of 5G networks. To further commercial adoption and promote new innovation in 5G applications, the company established 5G joint innovation centers together with carriers worldwide.
In 2019, sales revenue from Huawei’s carrier business reached CNY296,7 billion, up 3,8 percent year-on-year.
Sales revenue from Huawei’s consumer business reached CNY467,3 billion, up 34 percent year-on-year. A total of 240 million smartphones shipped throughout the year
Revenue from enterprise business reached CNY89,7 billion, up 8,6 percent yearly.
Xu said the “external environment” would get more complicated going forward, hence the need to keep enhancing the competitiveness Huawei products and services, promoting open innovation and creating greater value for customers and society at large.
“This is the only way we can seize the historic opportunities presented by the digital and intelligent transformation of industries, and maintain robust growth in the long run.”
– CAJ News