Huawei today said its revenue rose 20.6 percent to CNY 288.2 billion or $46.5 billion and net profit grew 32.7 percent to CNY 27.9 billion or $4.5 billion in 2014.

Huawei, which officially announced its 2014 annual report, said carrier business group revenue increased 16.4 percent to CNY 192.1 billion or $31 billion, with a strong contribution from mobile broadband network roll outs.

Huawei with $31 billion revenue from carrier business alone is the largest telecom network vendor in the world. For comparison, Ericsson revenue decreased 2 percent in 2014 to SEK 228 billion or $26.42 billion.

Revenue of Huawei enterprise business group revenue increased 27.3 percent to CNY 19.4 billion or $3 billion, with strong growth in network and IT areas including cloud data center solutions and agile networks.

Consumer business group revenue increased 32.6 percent to CNY 75.1 billion or $12 billion – fuelled by smartphones and strong growth in emerging markets.

In 2014, Huawei invested CNY 40.8 billion or $6.6 billion into research and development (R&D), representing 14.2 percent of 2014 revenue and a significant increase of 29.4 percent from 2013.

Huawei has invested more than CNY 190 billion or $30.7 billion in R&D over the past decade.

Baburajan K
[email protected]