Despite being on a US spying list, China’s Huawei technologies continues to clean up.
Huawei does not have to tell us much, because it is a private company, but the world’s No.2 telecommunications equipment maker, reported a 33 percent rise in profit for 2014.
This matches company guidance, as the global adoption of fourth-generation (4G) mobile technology boosted sales.
Net profit for 2014 rose to $45.7 billion US dollars, the Shenzhen-based company told media in an earnings briefing today.
In a breakdown, its revenue from telecom operator business rose 16.4 percent year on year, to $31 billion dollars; its revenue from enterprise business reached $3.1 billion dollars, up 27.3 percent year on year; and its revenue from consumer business reached $12.1 billion dollars, up 32.6 percent year on year.
Meanwhile, the company invested $66 billion dollars in research and development, rising 29.4 percent year on year and representing 14.2 percent of its annual sales revenue.
In the past ten years, Huawei’s investment in research and development accumulated to $307 billion dollars.
Either way, despite the US’s most ironic embargo, Huawei is doing rather well.
