Huawei’s Net Profit Up 33 Percent

Seeming to perform well in all its businesses, Chinese tech firm Huawei has reported a 33 percent profit jump in 2014.

Huawei’s overall group revenue rose 20 percent, with net profit up to 27.9bn yuan (£3bn) in 2014, a 32.7 percent hike from 2013.

Focus

“Our strong revenue growth in 2014 can be attributed to a continuous focus on our pipe strategy,” said Ken Hu, Huawei board member and rotating CEO.

Huawei’s carrier business group saw revenues increase by 16.4 percent in 2014, with its enterprise group, which provides IT equipment such as servers and cloud tools, increasing revenue by just over 27 percent.

Huawei CFO Meng Wanzhou said: “In 2014, Huawei maintained effective growth and achieved steady financial performance. Our cash flow, revenue, and profit all grew over the previous year.”

It was Huawei’s consumer division which saw the most growth. Huawei attributed the 32.6 percent revenue increase to £8bn.

Hu said: “With heavy investment in innovations in areas such as cloud computing, big data, 5G, SDN and NFV, we believe we are well positioned to capture the tremendous business opportunities in this digital transformation era.”

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