Huawei's 2017 sales numbers are in - massive growth across the board
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Huawei may have struggled with getting into the US but the company is still the third-largest smartphone producer in the world—and one of the biggest network/communication OEMs. The lack of Huawei smartphones in brick-and-mortar stores in the US may have you doubting those facts but the company's annual sales numbers should dispel any such notions.
The Chinese giant has released its sales numbers for 2017, and things look good for the company. Total revenue for the year topped off at US$92.5 billion, up 15.7% from 2016. Net profit stood at US$7.3 billion, an impressive 28.3% year-on-year growth. The company also invested more in R&D, spending a whopping US$13.8 billion, up 17.4% from 2016.
We're on a new journey. Opportunities and challenges are popping up faster than ever before, and nonstop open innovation is the only way we can keep ahead of the game," Huawei Rotating CEO Ken Hu was quoted as saying. "Over the next 10 years, Huawei will continue to increase investment in technological innovation, investing more than 10 billion dollars back into R&D every year. We will actively pursue open collaboration, attract and cultivate top talent, and step up efforts in exploratory research. We want to better enable all industries to go digital and intelligent."
The company's smartphone arm shipped 153 million units in 2017, ending the year as the third-largest smartphone producer in the world, behind Samsung and Apple. Huawei's smartphone division—Honor included—recorded an impressive US$36.4 billion in revenue, a 31.9% year-on-year growth.