Huawei reports 33 percent increase in net profit, invests heavily in R&D

March 31, 2015 7:11 AM

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Huawei reports 33 percent increase in net profit, invests heavily in R&D

Huawei Technologies Co. Ltd. has reported a 32.7 percent increase in net profit for 2014. Net profit rose from 21 billion yuan ($3.38 billion) in 2013 to 27.9 billion yuan ($4.5 billion) in 2014. According to its annual report released March 31, the company achieved strong financial performance in 2014 across all business areas. The report cautions that since Huawei generates more than 60 percent of its revenue abroad, foreign exchange rates have had a significant impact on earnings.

“Our strong revenue growth in 2014 can be attributed to a continuous focus on our pipe strategy, while profit increase stems from streamlined management and improvements in overall efficiency,” said Ken Hu, Deputy Chairman of the Board and Rotating CEO. “With heavy investment in innovations in areas...

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