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Monday, April 23, 2012

Huawei reports revenue up but profits down

Information and communications technology business Huawei has reported its full-year results for the 2011 financial year. Revenue was up 11.7% to CNY 203.9 billion (£20.1 billion), while net profits were down year-on-year to CNY 11.6 billion.

The company’s consumer business unit recorded sales revenues of CNY 44.6 billion, an annual increase of 44.3%, helped by sales of around 20 million smartphones and a total of almost 150 million ‘smart devices’ sold.

Ken Hu, acting CEO of Huawei under the company’s ‘rotating CEO’ scheme, said “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. We have made strategic investments, augmented our R&D capabilities and deployed resources globally, and implemented a future-oriented business architecture that puts Huawei in a confident position for sustained growth.”

[Annual report]

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Author: The Fonecast
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