Huawei revenue surges 16% to $92.5 bn, carrier business grows 2.5%

Sunrise 5G in Switzerland with HuaweiHuawei announced revenue of CNY603.6 billion or $92.5 billion (+15.7 percent) and net profit of CNY47.5 billion or $7.3 billion (+28.1 percent) in 2017.

Huawei has generated revenue of $45.7 billion (+2.5 percent) from carrier business, $8.4 billion (+35.1 percent) from enterprise business and $36.4 billion (+31.9 percent) from consumer business in 2017.

Huawei’s investment in research and development rose 17.4 percent to CNY89.7 billion or $13.8 billion. The company’s total R&D spend over the past decade has exceeded CNY394 billion or $60.4 billion.

Huawei’s Rotating Chairman Ken Hu said that the China-based technology company will increase investment in technological innovation, investing more than $10 billion back into R&D every year over the next 10 years.

Huawei shipped 153 million Huawei and Honor brand smartphones in 2017. Huawei set up a Cloud Business Unit in 2017 and launched 99 cloud services across 14 major categories, and over 50 solutions. The company also unveiled the Enterprise Intelligence (EI) platform, and developed over 2,000 cloud service partners.