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in-focus

Huawei reports net profit increase of more than 25%


Huawei released its 2018 Annual Report on Friday showing its sales revenue rounded off at CNY721.2 billion (Bt3.412 trillion), up 19.5 per cent year-on-year and its net profit reached CNY59.3 billion, up 25.1 per cent year-on-year.


The company said in a press release on Friday that in 2018, Huawei invested CNY101.5 billion (14.1 per cent) of its sales revenue) in R&D, ranking fifth globally in The 2018 EU Industrial R&D Investment Scoreboard. 
Over the last 10 years, Huawei's R&D expenditure has reached more than CNY480 billion. 
According to official data released by the World Intellectual Property Organisation (WIPO), Huawei filed 5,405 patent applications to this organisation in 2018, ranking first among all companies globally.
At the release of its annual report, Guo Ping, Huawei's Rotating Chairman, said: "Information communications technology is rapidly working its way into every industry. This has triggered a digital, intelligent transformation – the driving force behind our digital economy. 
“Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to building the world's best network connections. 
“Throughout this process, Huawei will continue to strictly comply with all relevant standards to build secure, trustworthy, and high-quality products. As we work towards this goal, we have been explicitly clear: Cyber security and user privacy protection are at the absolute top of our agenda. We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era. And countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy.
"The easiest way to bring down a fortress is to attack it from within. And the easiest way to reinforce it is from outside. Moving forward, we will do everything we can to shake off outside distractions, improve management, and make progress towards our strategic goals. 
“We will continue to strengthen operational compliance, ensure business continuity and sustainability, and cultivate an open ecosystem where all players collaborate and prosper together. In addition, we will continue our organisational transformation to inspire greater passion and vitality across the organisation."

Published : March 29, 2019

By : The Nation