Smartphone sales and R&D investment see profits at Huawei leap 33%

Huawei CEO Guo PingBooming smartphone sales saw profits at leading Chinese telecommunications concern Huawei Technologies leap by 33% in 2015, the company announced last week. According to its annual report, net profits rose to $6.13bn and global revenue grew to $65bn, a year-on-year increase of 37%. CEO Guo Ping attributed the success to the brand’s growing global reputation and its presence in 170 countries and regions around the world, but analysts also pointed to the company’s commitment to R&D which has seen it invest more than $4bn in new product development over the past 10 years. 
It is now also investing $1bn in an open-source technology research platform centred in Guandong. “A group of leading international companies have emerged (in Guangdong Province), and one thing they have in common is that they all own their own core technology,” said Li Xinchun of Sun Yat-Sen University’s management school.The province is encouraging its high-tech business commuity to increase direct investment overseas and expand transnational businesses.

Source: xinhuanet