Huawei, an information and communications technology (ICT) solutions provider, has released its audited full-year 2011 financial results noting sales revenues of approximately $32.40 billion – a 11.7% growth over the previous year.
Huawei also reported net profits of $1.85 billion in line with the company’s revenue expectations.
Huawei continued to grow and consolidate its market presence globally in 2011, generating sales revenues of $10.42 billion, up 5.5%, from the domestic Chinese market; and recording 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, the company said.
The chinese ICT giant 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.
Similarly, 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, acting CEO, 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.”
Huawei representatives added that the company has 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 which sees the company positioning itself to leverage high-growth areas and industry growth fundamentals for continued success, they added.
Looking ahead, Huawei will harness its business focus and corporate governance structure to realise the opportunities presented by ICT convergence. The company will also increase its investment in its cloud-pipe-device strategy to deliver on Huawei’s promise of aligning operators, enterprises and consumers with the immense possibilities of a connected world, representatives said.
Huawei’s full-year results were independently audited by international accounting firm KPMG, and are outlined in the company’s 2011 annual report.