Huawei financials

Main article on the company: Huawei

2023

Profit growth doubles to 87 billion yuan

In 2023, Huawei made a net profit of 87 billion yuan (approximately $12.05 billion at the exchange rate on March 29, 2024). This is more than twice (by 144%) the result for the previous year. The Chinese corporation is showing rapid growth despite sanctions from the United States, which is facilitated by the recovery of the consumer segment and revenues from new lines of business, such as components for smart cars. This is stated in the financial report published on March 29, 2024.

Huawei's revenue in 2023 reached 704.2 billion yuan ($97.53 billion), which is 9.6% more compared to 2022. Significant growth was recorded in the consumer business segment, where sales increased by 17.3% on an annualized basis - to 251.49 billion yuan ($34.83 billion).

𝓲

Unsplash

The report said that the information and communication technology division in 2023 brought in 362 billion yuan ($50.14 billion), up 2.3% from the previous year. Revenue in the direction cloud computing amounted to 55.3 billion yuan ($7.66 billion), which is 21.9% more than in 2022. The digital division power engineering specialists of Huawei Digital Power received 52.6 billion yuan ($7.28 billion), which is 3.5% more on an annualized basis. The smart automotive solutions business brought in 4.7 billion yuan ($0.65 billion) - plus 128.1% year-on-year.

We've been through a lot over the last few years. But overcoming one test after another, we were able to demonstrate growth. Trusting and supporting our customers and partners around the world is what helps us keep moving forward, says Ken Hu, interim chairman of Huawei's board.

It is noted that in 2023 Huawei invested approximately 164.7 billion yuan ($22.81 billion) in research and development. This accounted for 23.4% of its annual revenue.^[1]

Revenue growth of 9%

Huawei's sales have come close to 100 billion dollars a year of technological breakthroughs. China Revenue at Huawei Technologies Co. rose 9% in 2023, ending a dramatic year for the Chinese tech power, which has challenged and Apple US sanctions made a long-awaited breakthrough in chip technology.

2022: Biggest drop in profits in the company's history to 35.56 billion yuan

In 2022, Huawei faced a sharp drop in net profit, which decreased by 69% compared to the previous year and amounted to 35.56 billion yuan, or $5.11 billion. Such figures are given in the financial report presented at the end of March 2023.

Huawei reportedly suffered the worst drop in net profit in its history. This is due to tough sanctions from the United States, which hit the smartphone business and other product categories of the Chinese telecommunications corporation hard. In addition, Huawei calls the rise in commodity prices, severe restrictions on the part of the PRC authorities in connection with the ongoing COVID-19 pandemic and macroeconomic challenges as negative factors. Against this background, the company seeks to diversify its business, developing promising areas, including cloud computing and automotive.

Huawei has experienced the worst drop in net profit in its history

Huawei's revenue in 2022 reached 642.34 billion yuan, or $92.38 billion. This corresponds to an increase of 0.9% compared to 2021, when the company received 636.81 billion yuan. In 2022, the operator's direction brought 283.98 billion yuan in revenue. Another 133.15 billion yuan fell on the corporate segment, 214.46 billion yuan - on consumer products. All other activities provided revenue of 10.75 billion yuan.

If we consider Huawei's revenue structure by category, then in the information and communication technology segment, sales amounted to 353.98 billion yuan ($51.53 billion at the exchange rate as of April 1, 2023). Cloud products and services contributed 45.34 billion yuan ($6.6 billion). Intelligent automotive solutions accounted for 2.08 billion yuan ($0.3 billion). The direction of digital technologies and power electronics Huawei Digital Power brought 50.81 billion yuan (approximately $7.4 billion).^[2]

2021

Share of global smartwatch sales - 7.7%

Data for 2021

First fall in annual revenue

Huawei's revenue at the end of 2021 amounted to 636.8 billion yuan (about $100 billion), which is 28.5% less compared to 2020. Annual sales from the company fell for the first time, and this happened due to the introduction of American sanctions against it. However, Huawei itself does not see serious problems in the financial downturn.

Despite the decline in revenues in 2021, our ability to profit and generate cash flows is increasing. Now we have better adapted to uncertainty, "said Huawei CFO Meng Wanzhou (Meng Wanzhou).

Huawei's annual sales fell for the first time. US sanctions affected

According to her, the main reasons for the drop in revenue were US sanctions, ongoing problems in supply chains and a decrease in demand for devices that support 5G networks in China.

In 2021, the revenue of Huawei's consumer division, which produces smartphones and other electronics, decreased by 50% to 243.4 billion yuan. The company's telecommunications business fell 7% to 281.5 billion yuan.

The company spent 142.7 billion yuan on R&D in 2021 against 141.9 billion yuan aimed at the same goals at the end of the previous year.^[3]

Huawei's corporate solutions division registered revenue of 102.4 billion yuan in 2021. Within this area, the Chinese company has 11 solutions for such industries as transport, finance, power, production and the public sector. Huawei also has more than 3 thousand commercial contracts for the launch of dedicated 5G networks in hospitals, mines, production enterprises, metallurgical plants, etc. Public 5G networks built on Huawei equipment are available in 13 countries.

Fourth in the world among ICT developers by revenue

According to Synergy Research Group, the total revenue of the 13 largest manufacturers of software and ICT services for business, including telecom operators, reached $613 billion in this market in 2021, which is 10% more than a year earlier. Huawei ranked fourth on that list.

The world's largest manufacturers of ICT solutions for business

Sales decline by 38% in Q2

Huawei Technologies Co. in the second quarter of 2021 showed the steepest decline in quarterly sales since the US blacklisting hit overseas businesses.

The company reported a 38% year-on-year decline in sales to 168.2 billion yuan ($26 billion) in the three months ended June.

In the first half of the year, sales amounted to 320.4 billion yuan, profit margin - 9.8%, which means net profit of 31.4 billion yuan.

Earnings for the June quarter were RMB14.5 billion.

"These were difficult times," said Eric Xu, chairman of the company's board of directors. "Our goal is to survive and make it sustainable."

In the 3rd quarter, a sharp decline in sales continued

2020

Revenue growth 3.8% to 891.4 billion yuan

On March 31, 2021, Huawei provided TAdviser with its report on the results of work in 2020. Growth has slowed, according to the report, but the company's performance is largely in line with forecasts. Sales revenue in 2020 amounted to 891.4 billion yuan ($136.7 billion). US), up 3.8% from 2019, and net income reached 64.6 billion yuan ($9.9 billion). US), beating 2019 figures by 3.2%.

Huawei in 2020 increased revenue by 3.8%, despite US sanctions
Photo source: okoinvest.com

Despite the operational difficulties arising from the imposition of sanctions by the United States in 2019 and 2020, Huawei again invited KPMG to conduct an independent and objective audit of its financial statements. The document compiled by KPMG is a standard unmodified audit report.

In 2020 communications , Huawei's operator business group continued to ensure stable operation of over 1,500 networks in more than 170 countries and regions, providing people with the opportunity, and remotely perform the work study remotely to make online purchases in the context of quarantine associated with. In COVID-19 cooperation with telecom operators around the world, the company provided high quality communications and continued to move forward with over 3,000 projects related to - 5G technologies, in more than 20 industries, including in,,, to coal mining steelmaking port and production activities.

For 2020, Huawei's enterprise direction has intensified efforts to develop innovative solutions for various industries and scenarios, as well as to create a digital ecosystem based on joint creation and overall success. During the pandemic, Huawei provided technical knowledge and solutions vital to the fight against the virus. One example is the AI diagnostic solution based on the cloud service Huawei Cloud, which has helped medical institutions around the world reduce the burden on medical infrastructure. In addition, Huawei, in collaboration with its partners, has launched cloud-based online education platforms for more than 50 million primary and secondary students.

With the deployment of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, as well as the adoption of the Seamless AI Life ("1 + 8 + N") strategy, Huawei's consumer electronics business has moved to the next stage, providing consumers with intelligence across all devices and for all scenarios, focusing on smart office systems, fitness and health, smart home, easy travel and entertainment.

Шаблон:Quote 'author = said Ken Hu, the rotating chairman of Huawei.

All financial statements in the 2020 annual report were independently audited by the Big Four international accountancy firm KPMG.

Global Smartwatch Market Share - 13.3%

Huawei The global market share smartwatch was 13.3% (data). IDC More. here

Global Server Market Share - 5.4%

Huawei's share of the global server market was 5.4% (IDC data ). Read more here.

Share in the global router market - 18.5%

At the end of 2020 Huawei , it occupied 18.5% of the world router market (data). Gartner More. here

2019

Revenue growth 19.1% to 858.8 billion yuan

On March 31, 2020, Huawei published its 2019 annual report reflecting strong business performance. The company's sales revenue worldwide in 2019 was approximately RMB858.8 billion, up 19.1% from 2018. Huawei 's net income reached RMB62.7 billion and cash generated from operations exceeded RMB91.4 billion, posting a 22.4% increase from 2018. As part of its long-term continuous investment in modern technology and research, the company Huawei invested 15.3% of its 2019 revenue, or 131.7 billion yuan, in R&D. The company's total R&D costs have exceeded 600 billion yuan over the past decade.

2019 was an outstanding year for Huawei. Despite outside pressure, our team moved forward with confidence, focusing solely on delivering more value to customers. We have worked hard to win their respect and trust, as well as the respect and trust of our partners around the world. Our business remains stable, noted the current CEO of the company Eric Xu

In 2019, the Huawei Carrier business group took a leading position in the field of commercial network deployment. 5G To expand the possibilities of commercial application and stimulate the further development of advanced technologies in the field of 5G, the company, together with partner operators communications , created innovative centers around the world to promote 5G solutions. Huawei's solution for base stations RuralStar makes it possible to effectively cope with coverage problems in rural areas. As of March 2020, it is used in about 50 countries and regions, providing over 40 million residents of remote areas with mobile. In Internet 2019, sales revenue generated by Huawei Carrier business group grew 3.8% from 2018 to reach RMB296.7 billion.

Results of Huawei in 2019

The Huawei Enterprise Business Group continues to help customers from many different industries carry out digital transformation and lay the foundation stone for the digital world. Over 700 cities and 228 Fortune Global 500 companies worldwide have selected Huawei as a digital transformation partner. In 2019, Huawei announced a computer computing strategy aimed at preparing fertile soil for the future growth and prosperity of the intellectual world. As part of this strategy, the company introduced the fastest in the world - AIprocessor Ascend 910 and cluster Atlas 900, designed to speed up AI training. In 2019, sales revenue from Huawei in the corporate solutions segment reached 89.7 billion yuan, which is 8.6% higher than in 2018.

Huawei Consumer's business group is still growing steadily; deliveries smartphones for 2019 amounted to 240 million units. The company announces successful progress in the development Artificial intelligence of the Seamless AI Life ecosystem, covering all possible applications and various devices, including personal computers, and tablets wearable electronics smart displays. In 2019, the revenue of the Huawei Consumer business group increased by 34% compared to last year, amounting to 467.3 billion the Chinese yuan.

In the future, the external environment will only become more difficult. We need to continue to increase the competitiveness of our products and services by promoting open innovation and bringing more value to our customers and society as a whole. This is the only way to take advantage of the historic opportunities that provide us with digital and intellectual transformation of industries, and support sustainable growth in the long term, cautions Eric Xu

Xiao Haijun: Revenue growth of 12% to $124 billion

The company's revenue at the end of 2019 reached $124 billion, which is 12% higher than last year. For comparison, at the end of 2018, these figures amounted to $107 billion and 19.5%, and a year earlier - $92.5 billion and 16%, respectively. This was announced on March 3, 2020 by the CEO of Huawei Enterprise in the Eurasia region, Xiao Haijun. Read more here.

2018

Revenue growth 19.5% to 721.2 billion yuan

In 2018, Huawei Technologies generated 721.2 billion yuan ($107 billion), up 19.5% from a year earlier. The company first began to earn more on smartphones than on telecommunications equipment.

In the Huawei Consumer Business Group division specializing in the development and sale of smartphones, the turnover in 2018 reached 348.85 billion yuan, which is 45.1% higher than a year ago. The company sold more than 200 million smartphones for the year and ranked third in this indicator. Huawei expects to become the leader in the smartphone market at the end of 2019.

Huawei financials

In the telecommunications division (Carrier Business Group), sales decreased by 1.3%, amounted to 294.01 billion yuan and for the first time were below the revenue of Huawei's consumer business.

In the direction of Enterprise Business Group (servers and other IT solutions for corporate clients), annual revenue increased by 23.8%, reaching 74.41 billion yuan.

Most of the Huawei 's revenue remains concentrated in the Chinese market, where the company's revenue in 2018 was RMB372.16 billion, up 19.1% from the previous year.

In EMEA countries (Europe, Middle East, Africa), the Chinese vendor raised 204.54 billion yuan against 164.6 billion yuan in 2017. In the Asia-Pacific region, revenues rose 15.1% to 81.92 billion yuan. In the Americas, sales increased by 21.3% (to 47.89 billion yuan).

Huawei ended 2018 with a net profit of 59.3 billion yuan ($8.8 billion), which is a quarter more profit in 2017.

The financial report also reports that Huawei is actively investing in research and development - in 2018, the company allocated 101.5 billion yuan or 14.1% of its revenue for this purpose, ranking fifth in the world.^[4]

Dynamics of Huawei's share in the smartphone market

Mobile phone and smartphone sales leaders from 1992 to 2018 in animation below.

2017: Revenue growth 16% to $92.5 billion

Total annual revenue amounted to 603.6 billion yuan ($92.5 billion at the average annual exchange rate), which is 15.7% more than in 2016. At the same time, the company's net profit amounted to 47.5 billion yuan ($7.3 billion) and increased by 28.1% compared to the previous reporting period. In addition, the company's total investments in research and development over the past decade exceeded 394 billion yuan ($60.4 billion).

• Huawei Carrier BG accounted for 297.8 billion yuan ($45.7 billion) of revenue in 2017, up 2.5% from a year ago. At the same time, the group's activities were focused on developing the potential of existing networks, as well as creating new opportunities in the video, Internet of Things and cloud segments.
• Huawei Enterprise BG received 54.9 billion yuan ($8.4 billion) in revenue thanks to innovative developments in cloud solutions, big data, campus networks, data centers, the Internet of Things and other business segments. She also helped introduce her advanced tools to representatives of various vertical industries. Revenue growth compared to 2016 was 35.1%.
• Huawei's Consumer BG unit has seen significant growth in key markets. In 2017, a total of 153 million smartphones under the Huawei and Honor brands were shipped, which yielded annual revenue of 237.2 billion yuan ($36.4 billion). This figure is 31.9% higher than last year's result.
• In 2017, Huawei created the Cloud Business Unit, which launched 99 cloud services and more than 50 solutions. The company also introduced the platform and entered into more than 2,000 partnerships in the cloud services segment.

2016: Revenue growth 32% to $75.1 billion driven by corporate business

On March 31, 2017, Huawei announced the results of its work in 2016. The company's revenue jumped by a third in yuan thanks to its corporate business, which has become the fastest growing in the Chinese manufacturer.

In 2016, Huawei raised 521.6 billion yuan ($75.1 billion) against 395 billion yuan a year earlier. Net income in Chinese currency increased slightly - 36.9 from 37.1 billion yuan. However, there was a decrease in dollars - from $6.13 billion to $5.3 billion.

Huawei logo at the company's headquarters in China

The highest growth rate was shown by the Enterprise Business Group division, which is responsible for selling network equipment to corporate customers. Revenue here in 2016 increased by 47.3%, amounting to 40.7 billion yuan ($5.9 billion).

Turnover in the consumer division (smartphones, tablets, routers, etc.) increased by 44% to 179.8 billion yuan ($25.9 billion). In 2016, Huawei delivered more than 139 million smartphones to the global market, the third indicator in the world after Samsung and Apple.

Huawei notes that the consumer business is making an increasingly high contribution to the company's profit, and investments in this market are also increasing, which ultimately negatively affects the overall profitability of the manufacturer's business. So, in 2016, Huawei's profit margin decreased to 7.1% from 9.3% in 2015. At the same time, Huawei executives assure that the company does not seek high profitability.

We share our profits with customers and partners in the market, Huawei said.

Most of Huawei's revenues (over half) are still generated by sales of telecommunications equipment. Revenue in the corresponding Carrier Business division in 2016 amounted to 290.1 billion yuan ($41.8 billion), which is almost 24% more than a year ago. The Financial Times notes that Huawei has built more than half of the base stations for LTE networks in the world, but the company is deprived of access to telecommunications infrastructure in the United States for national security reasons.^[5]

2015: Revenue growth 37% to $61.1 billion

On April 1, 2016, Huawei Technologies published its annual financial report. The company's profit increased by a third, revenue growth was the largest in the previous seven years.

In 2015, Huawei's net profit was 36.9 billion yuan ($6.13 billion), up 33% from a year earlier. Sales rose 37% to 395 billion yuan ($61.1 billion). This dynamics of revenue growth turned out to be the largest since 2008, which was facilitated by strong sales in the smartphones world and the launch of fourth-generation mobile networks in, the China agency notes. Reuters

Huawei year totals: Biggest revenue growth in Huawei years

Huawei's growth is a direct consequence of its strategic focus and large investments in the main areas of our business, said CEO Guo Ping.

Huawei's telecommunications division ended 2015 with a turnover of 232.3 billion yuan ($38.6 billion), which is 21% more than a year ago. Sales of equipment for telecom operators still form most of the income of the Chinese vendor.

Huawei Enterprise, which is responsible for selling network equipment to corporate customers, had revenue of 27.6 billion yuan ($4.6 billion) in 2015, which turned out to be 44% more than in 2014.

The volume of consumer business, including the sale of smartphones and tablets, grew 73%, to 129.1 billion yuan ($21.5 billion). Huawei turned out to be the first Chinese phone manufacturer to have an annual supply of these products exceeding 100 million units. In 2015, the company increased the production of pipes by 44%.

It also follows from the Huawei report that in 2015 the company spent about 15% of its revenue on research and development, while it predicted 10%. Due to large R&D costs, the profitability of the vendor's business is decreasing: in 2015, Huawei's operating profit margin decreased to 11.6% from 11.9% in 2014^[6]

2014: Revenue growth 21% to $46.5 billion

In late March 2015, Huawei Technologies released its final financial performance in 2014. The company's profit increased by a third, and revenue - by 21%.

According to The Wall Street Journal, citing Huawei data, in 2014 the company made a net profit of 27.9 billion yuan ($4.5 billion) against 21 billion yuan ($3.4 billion) a year earlier. Sales for the same period jumped to 288.2 billion yuan ($46.5 billion) from 239 billion yuan ($38.5 billion).^[7]

As the newspaper notes, the Chinese company receives most of the revenue (about 60%) in foreign markets, so the dollar exchange rate could significantly affect its revenues, although the manufacturer itself did not report anything about the impact of unfavorable currency fluctuations.

Thanks to telecom and smartphones, Huawei was able to increase profits by 33%, and revenue - by 21%

Huawei's financial rise in 2014 is due to strong demand for the company's smartphones in the world and its telecommunications equipment in China, where local cellular operators have been actively deploying fourth-generation networks. The telecommunications direction (Carrier Business Group) brought Huawei about 67% of revenue (192.1 billion yuan or $31 billion) from the consolidated.

Huawei's Consumer Business Group (CBG), which is responsible for developing and selling mobile devices, accounted for 26% of Huawei's sales in 2014. The volume of this business increased by 33% to 75.1 billion yuan ($12.1 billion), which is more due to emerging markets, including Latin America. See Huawei Consumer Business Group (CBG) for more details.

2013: Revenue growth of 8.6% to $38.4 billion

At the end of 2013, profit increased by 34% to 21 billion yuan ($3.4 billion) compared to 15.6 billion yuan ($2.5 billion) in 2012. Revenue in 2013 increased by 8.6% to 239 billion yuan ($38.4 billion) compared to 220.2 billion yuan ($35.4 billion) in 2012 (USA $1 = 6.0569 Chinese yuan as of December 31, 2013)

In 2013, Huawei's networking division generated sales revenue of 166.5 billion yuan, up 4.0% from 2012. Divisions operating in the corporate and consumer sectors in 2013 showed growth in sales revenues - by 32.4% and 17.8% (to 15.2 billion and 57.0 billion yuan, respectively). 65% of Huawei's revenues in 2013 came from foreign countries, and in China the company earned 84 billion yuan, showing an increase of 14.2% compared to 2012.

Innovation has become the key to effective growth. In 2013, Huawei invested 30.7 billion yuan (about $5.06 billion) in research and development, representing approximately 12.8% of annual revenue. In total, the company's investment in research and development over the past 10 years has exceeded 151 billion yuan. Huawei conducts research based on their customer needs and plans to continue investing in basic scientific and engineering technological developments, as it considers them the basis of leadership in the infocommunication market.

2012:66% of revenue comes from overseas markets

Sales of Huawei in 2012 amounted to 220.19 billion yuan, net profit amounted to 15.38 billion yuan. $1 at this time costs 6.2285 yuan. Over the next five years, the company's experts predicted a CAGR of 10%.

Huawei's three main divisions have seen business growth. The operator solutions division holds the leading position, sales amounted to 160.1 billion yuan, which is 6.7% more than in 2011.

Sales of the consumer solutions division reached 48.4 billion yuan (an increase of 8.4%).

The business of the corporate solutions division is growing in the Chinese market, and is also actively expanding at the international level, sales amounted to 11.5 billion yuan, at the end of the year the growth was 25.8%.

Rapid economic growth in the EMEA region contributed to an increase in sales to 77.4 billion yuan (annual growth - 6.1%). In the Asia-Pacific region, sales reached 37.4 billion yuan (annual growth - 7.2%), in the Americas, sales amounted to 31.8 (4.3%). In China, the company's sales amounted to 73.6 billion yuan (an increase of 12.2% compared to the result of last year).

In 2012, investment in Huawei research and development amounted to 30.09 billion yuan, or 13.7% of total sales revenue. The company has established 16 R&D centers and 28 joint innovation centers worldwide.

The Carrier Solutions Division will continue to increase efficiency through capitalization of opportunities provided by increased demand for professional services, integration of carrier-grade data centers, and cloud computing services.

Huawei Enterprise also plans to continue to pursue an integration strategy and focus its efforts on developing partnerships, as well as helping partners enhance their business opportunities by providing the industry's most competitive products in cloud computing, data center, and storage hardware.

Huawei Device's consumer solutions division aims to become the world's leading brand in the smart device category. Huawei will continue to simplify management processes, increase efficiency and create greater value for customers with a workforce of 150,000 employees worldwide.

The total investment of the company in research over the past 10 years amounted to 120 billion yuan, including 29.9 billion yuan in 2012, which corresponds to an annual growth of more than 13%. Huawei's investments in the carrier, corporate and consumer sectors of the market are closely connected and concentrated around an information channel that ensures the rapid provision of a variety of communication services. This makes it easier to solve problems that arise in an era of large amounts of data. Huawei partners with 45 of the 50 largest operators in the world, 70% of the company's revenue is generated through joint commercial activities with these operators.

66% of Huawei's total revenue comes from overseas markets. Sales revenue in the Asia-Pacific market was RMB37.4 billion, while sales revenue in Europe, the Middle East and Africa was RMB77.4 billion.

The US figure was 31.8 billion yuan. Sales revenue in the Chinese market amounted to 73.6 billion yuan.

According to the forecast of Katie Meng, the growth of total revenue from Huawei sales in 2013 will be 10-12%.

2011: 1st in LTE equipment market with 50% share

In 2011, compared to 2010, sales revenues increased by 11.7% to 203.9 billion yuan, while the company's net profit amounted to 11.6 billion. Current indicators are fully consistent with previously predicted ones.

Sales revenues in the consumer sector amounted to 44.6 billion yuan, which is 44.3% higher than in 2010. The main share of the increase in this segment is noted in the field of "smart" devices, the volume of deliveries of which approached 150 million units. In the corporate sphere, an increase in revenues was also noted. Revenues from sales of one of the key divisions of Huawei Enterprise in the first year of activity increased by 57.1% compared to the same period last year and amounted to 9.2 billion yuan.

The company continues to grow and strengthen its position in the world. Revenues from sales in foreign markets increased by 14.9% to reach 138.4 billion yuan, while revenues from sales in the domestic market amounted to 65.57 billion, which is 5.5% higher than last year.

According to the report, Huawei's investment in research and development rose to 23.7 billion yuan, which is 34.2% higher than in fiscal 2010 and accounts for 11.6% of total annual sales revenue. Significant attention to innovation is the basis of Huawei's business strategy and a key factor in the successful development of the company as a whole.

According to the Global Mobile Supplier Association (GSA) LTE Development Report for October 12, 2011, there are 35 commercial LTE networks in the world - 18 of them use Huawei's integrated SingleRAN LTE solution. Huawei ranks first in the LTE equipment market with a 50% share.

2010: Revenue $27.6 billion, 30% increase in net income

In 2010, sales revenues were CNY 185.2 billion, up 24.2% from the previous year. Huawei's net profit was 23.8 billion Chinese yuan (30% more than in 2009). The financial results were independently audited by the international company KPMG.

By the end of 2010, Huawei had built 80 SingleRAN networks, among which 28 LTE networks were launched for commercial use or are already ready for launch. Huawei also sold 120 million terminals worldwide.

In 2010, Huawei's sales to the corporate sector reached $2 billion (total revenues of the company - $27.6 billion). In 2011, this figure is planned to double, and within three to five years - to increase to 15-20 billion.

Notes