Huawei posts 28% rise in 2017 profit

Eyeing the growth-driven Cloud, Internet of Things (IoT) and 5G markets, Shenzhen-based Huawei on Friday reported net profit of 47.5 billion yuan ($7.3 billion) for 2017, an increase of 28.1 per cent year-on-year, and registered revenue of 603.6 billion yuan ($92.5 billion) -- a rise of 15.7 per cent over 2016.

In 2017, Huawei's annual investment in research and development reached 89.7 billion yuan ($13.8 billion), up 17.4 per cent compared with 2016. The company's total R&D spend over the past decade has exceeded 394 billion yuan ($60.4 billion).

"We're on a new journey. Over the next 10 years, Huawei will continue to increase investment in technological innovation, investing more than $10 billion back into R&D every year," Ken Hu, Huawei's Rotating Chairman, said.

"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," Hu added.

Focusing on helping global carriers maximise the potential of their existing network assets and seize new opportunities in video, Internet of Things (IoT) and Cloud markets, Huawei's Carrier business group generated 297.8 billion yuan ($45.7 billion) in revenue, an increase of 2.5 per cent year-on-year.

Huawei's enterprise business group enhanced innovations in cloud, big data, campus networks, data centres, IoT and other domains.