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Smartphones drive Huawei to best revenue growth in seven years

James Pearce
April 1, 2016

Chinese manufacturer saw revenue grow by more than 37 per cent to Rmb395bn ($61bn) for 2015

Huawei saw its annual revenue for 2015 grow by more than 37 per cent to Rmb395bn (£42.65 billion), its best annual revenue growth since 2008, driven by strong smartphone sales.

Net profit at the Chinese manufacturer rose 32 per cent from the previous year to Rmb36bn (£3.89 billion), driven by a 44 per cent increase in handset shipments to 108 million worldwide. Around 40 per cent of these were sold outside its home market.

These sales propelled revenues at Huawei’s consumer division to £13.95 billion, up 73 per cent on the previous year.

Globally, however, Huawei’s market share increased from 5.7 per cent to 7.4 per cent last year, according to IDC, as it maintained its number three ranking.

Huawei deputy chairman and rotating CEO Guo Ping said: “In part, Huawei owes its long-term growth to the sheer size of the ICT market, which is the driving force of digital economies around the world. However, our growth is also a direct result of strategic focus and heavy investment in our core businesses.

“Over the next three to five years, we will concentrate on enhancing connectivity, enabling the development of vertical industries, and redefining network capabilities. With an open and collaborative approach, and a commitment to shared success, we will work closely with our customers and partners to maximize industry development opportunities. Together, we will build a Better Connected World.”

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