Huawei has released its audited full-year 2011 financial results noting sales revenues of $32.40 billion – an 11.7% growth over the previous year. Huawei also reported net profits of $1.85 billion, which it said was in line with expectations.
Huawei generated sales revenues of $10.42 billion in 2011, up 5.5%, from the domestic Chinese market; and recorded sales revenues of $21.98 billion, an increase of 14.9%, from overseas markets.
Huawei’s 2011 business performance was buoyed by particularly impressive growth achieved by its Consumer and Enterprise business groups. Huawei recorded sales revenues of $7.08 billion in its Consumer business, an increase of 44.3% over 2010, with robust growth in the smart devices segment shipping close to 150 million units last year.
Huawei’s Enterprise business group also increased sales revenues by 57.1% year-on-year, generating $1.46 billion in its first full year of operation as one of Huawei’s core business groups.
“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,” said Ken Hu, rotating and acting CEO at Huawei.
“We have made strategic investments, augmented our R&D capabilities and deployed these resources globally, and implemented a future-oriented business architecture that puts Huawei in a confident position for sustained growth,” he added.
Huawei boosted its investment in R&D to $3.76 billion, a year-on-year increase of 34.2%. The significant commitment to innovation, which represents 11.6% of total annual sales revenues, is a core pillar of Huawei’s business strategy.
The company said looking ahead it will harness its business focus and corporate governance structure to realise the opportunities presented by ICT convergence and also increase its investment in its cloud-pipe-device strategy.