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Huawei reports $60bn revenue, up 37pc

UAE Business

Huawei has reported a revenue of 395 billion Chinese renminbi ($60.8 billion) for its carrier, enterprise and consumer business groups (BGs) for 2015, representing a 37 per cent increase year-on-year.
Its net profit totalled to 36.9 billion Chinese renminbi (CNY), up 33 per cent year-on-year, said a statement.
Guo Ping, Huawei's deputy chairman and rotating chief executive officer, said: "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. Over the next three to five years, we will concentrate on enhancing connectivity, enabling the development of vertical industries, and redefining network capabilities. 
"With an open and collaborative approach, and a commitment to shared success, we will work closely with our customers and partners to maximize industry development opportunities. Together, we will build a Better Connected World."
Huawei's three business segments experienced significant growth, said the statement.
The carrier BG generated CNY232.3 billion in annual revenue, up 21 per cent YoY, with widespread rollout of 4G networks accounting for a large portion of this growth.
The enterprise BG generated CNY27.6 billion in revenue, an increase of 44 per cent YoY, which was attributed to the rapid growth in the public safety, finance, transportation, and energy sectors.
A major highlight of the company's performance in 2015, Huawei's consumer BG reported CNY129.1 billion in annual revenue, up 73 per cent YoY. 
This increase was a direct result of increased demand for high-quality products that deliver a premium user experience, as well as Huawei's growing influence as a consumer brand, said the statement.
Sabrina Meng, chief financial officer, noted: "We wrapped up 2015 in a robust financial position, with stable cash flow from operating activities, increased cash availability, and effective risk control. 
"In 2016, we will continue to focus on our pipe strategy, staying customer-centric in all we do. We will press ahead with management transformation projects to better prepare ourselves for the future, and continue boosting the efficiency of our operations to ensure sustainable growth." - TradeArabia News Service

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