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Chinese kit maker’s device arm steals the show as net profit jumps 33%.
Huawei on Friday reported a 37% rise in full-year revenue, driven by the ongoing deployment of 4G networks and strong growth at its devices business.
Revenue in the 12 months to 31 December 2015 came in at 395 billion yuan (€53.63 billion), up from CNY288.2 billion in 2014.
Huawei’s networks business accounted for the lion’s share, CNY232.3 billion – up 21% year-on-year – but its devices business is catching up fast.
The division, which produces smartphones, wearables and so on, saw full-year revenue surge to CNY129.1 billion, compared to CNY75.1 billion in the previous year. Smartphone shipments surged to 108 million, up from 75 million.
Meanwhile, Huawei’s enterprise unit generated revenue of CNY27.6 billion, up 44% year-on-year, driven by strong growth in the public safety, finance, transportation and energy sectors.
"In part, Huawei owes its long-term growth to the sheer size of the ICT market, which is the driving force of digital economies around the world. However, our growth is also a direct result of strategic focus and heavy investment in our core businesses," said Huawei’s rotating CEO Guo Ping, in a statement.
Huawei’s 2015 operating profit surged to CNY45.79 billion from CNY34.21 billion in 2014, while net profit rose 33% year-on-year to CNY36.9 billion. Cash flow grew to CNY49.32 billion from CNY41.76 billion.
"We wrapped up 2015 in a robust financial position, with stable cash flow from operating activities, increased cash availability, and effective risk control," said Huawei’s chief financial officer Sabrina Meng. "In 2016, we will continue to focus on our pipe strategy, staying customer-centric in all we do."
