Huawei has released its audited 2012 financial results. Huawei achieved steady business growth, recording sales revenues of CNY220.19 billion and net profit of CNY15.38 billion. In the next five years, Huawei forecasts a compound annual growth rate of 10%.
“In 2012, Huawei met business performance expectations through improved operational efficiency,” said Guo Ping, Huawei’s Rotating and Acting CEO.” Today, telecom networks are yet to meet the requirements for ubiquitous connections – zero wait time, ultra broadband, and smart applications. In the future, ICT will continue to grow, with new opportunities coming from cloud computing, BYOD (Bring Your Own Device), and big data, and feature phones being replaced by smartphones at a faster rate. Huawei will continue to focus on its pipe strategy, integrate and develop businesses around the information pipe, and create value for customers, while achieving sustainable and effective growth.”
In 2012, Huawei invested CNY30.09 billion, or 13.7%, of its total sales revenue into research and development (R&D). The company has established 16 R&D centers and 28 joint innovation centers across the world.