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Huawei revenues up 20% in 2014, led by smartphone growth
2015-01-13 08:55:00| Telecompaper Headlines
(Telecompaper) Huawei's revenues rose nearly 20 percent in 2014 to CNY 287-289 billion. Revenue at the Carrier Network business increased by 15 percent, led by a steady increase in 3G investment and the jump in 4G investments across the globe. Huawei's Enterprise Business grew revenue by around 27 percent, and the business now serves more than 100 of the world's top 500 companies. The Consumer Business showed the strongest growth, with a revenue increase of around 32 percent thanks to higher sales of mid-range and high-end smartphones. CFO Meng Wanzhou announced that profits from Huawei's main businesses were expected to reach CNY 33.9-34.3 billion, with a margin of 12 percent, in line with 2013. Both cash flow from operating activities and asset to liability ratios remained stable and strong, the company said without disclosing further figures. The company's R&D investment reached CNY 39.5-40.5 billion in 2014, an increase of 28 percent over 2013. Huawei will release its final financial results in March.
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Category:Telecommunications