Huawei Releases Its 2019 Annual Report
Umer Jamshaid Published March 31, 2020 | 08:20 PM
Huawei announces solid business performance and commitment to creating greater value for customers and society
Lahore (UrduPoint / Pakistan Point News - 31st Mar, 2020) Huawei released its 2019 Annual Report today, detailing a solid business performance. The company's global sales revenue in 2019 rounded off at USD$123 billion, up 19.1% year-on-year; its net profit reached USD$9billion; and its cash flow from operating activities topped USD$13.1 billion, up 22.4% year-on-year. As part of a long-term, ongoing investment in technological innovation and research, Huawei invested 15.3% of its 2019 revenue – or approximately USD$18.8 billion – back into R&D. Its total R&D spend over the past decade now exceeds USD$85.9 billion.
"2019 was an extraordinary year for Huawei," said Eric Xu, Huawei's Rotating Chairman. "Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers. We worked hard to earn their respect and trust, as well as that of our partners around the globe. Business remains solid."
In 2019, Huawei's carrier business led the commercial rollout of 5G networks. To further commercial adoption and promote new innovation in 5G applications, the company established 5G joint innovation centers together with carriers worldwide. Huawei's RuralStar base station solutions can effectively address coverage problems in remote areas. These solutions are being used in over 50 countries and regions, bringing mobile Internet to more than 40 million people living in remote areas. In 2019, sales revenue from Huawei's carrier business reached USD$42.5 billion, up 3.8% year-on-year.
Huawei's enterprise business continues to support the digital transformation of customers across industries as the company helps lay the foundations for the digital world.
Globally, more than 700 cities and 228 Fortune Global 500 companies have chosen Huawei as their digital transformation partner. In 2019, Huawei announced its computing strategy with the aim of cultivating fertile soil for the intelligent world to flourish. As part of this strategy, the company launched the world's fastest AI processor, the Ascend 910, and the AI training cluster Atlas 900. In 2019, sales revenue from Huawei's enterprise business reached USD$12.8 billion, up 8.6% year-on-year.
Huawei's consumer business continues to see robust growth, with a total of 240 million smartphones shipped throughout the year. The company reports further progress in developing the Seamless AI Life ecosystem across all scenarios and devices, including personal computers, tablets, wearables, and smart screens. In 2019, sales revenue from Huawei's consumer business reached USD$66.9 billion, up 34% year-on-year.
"The external environment will only get more complicated going forward," Xu cautioned. "We need to keep enhancing the competitiveness of our products and services, promoting open innovation, and creating greater value for our customers and society at large. This is the only way we can seize the historic opportunities presented by the digital and intelligent transformation of industries, and maintain robust growth in the long run."
All financial statements in the 2019 Annual Report were independently audited by KPMG, an international Big Four accounting firm.
Related Topics
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From Technology
-
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
1 day ago -
Pro Tips: How to Capture Stunning Portraits with the Aura Light Portrait of vivo V30 5G
3 days ago -
Itel celebrates launch of S24—a new brand identity
4 days ago -
Realme C53 Price Slash: High-Tech Meets High Style at New Low Price!
5 days ago -
Take Charge, Live Free: Empower Your Life with Infinix NOTE 40 Series
7 days ago -
PTA Undertakes Consultation with All Pakistan Network Association (APNA) on Proposed Class Value Add ..
7 days ago
-
Vivo V30 5G: The Perfect Blend of Enhanced Photography and Premium Design
8 days ago -
PITB's Regional Plan 9 invites applications for its newly launched incubation centers in Rawalpindi, ..
9 days ago -
Pakistan calls for enhanced information integrity on digital platforms
9 days ago -
Infinix NOTE 40 Series vs. the Competition: Why It Stands Out
10 days ago -
"Unlock Exceptional Value: The New realme Note 50 with Extended Warranty Now Available in Pakistan!� ..
10 days ago -
Google unveils new AI chips, arm-based processor for data centers
15 days ago