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Huawei FY profits up on enterprise, consumer expansion
2014-03-31 08:51:00| Telecompaper Headlines
(Telecompaper) Huawei said its annual revenues rose 8.5 percent in 2013 to CNY 239 billion. Growth was led by the enterprise business, up 32.4 percent to CNY 15.2 billion, and the consumer business, which grew 17.8 percent to CNY 57.0 billion. Carrier network equipment accounted for CNY 166.5 billion in revenue, up 4.0 percent year-on-year. Huawei earned 65 percent of its revenue outside of China in 2013, while sales in its home market were up 14.2 percent year-on-year to CNY 84 billion. In its annual report for 2013, the company underlined its continued investment in R&D, which reached CNY 30.7 billion or 12.8 percent of revenue last year. Operating profit was still up, at CNY 29.1 billion versus CNY 20.7 billion in 2012, and net profit improved to CNY 21.0 billion from CNY 15.6 billion a year earlier.
Tags: consumer
enterprise
expansion
profits
Category:Telecommunications