Huawei hits revenue record, beating other key infrastructure vendors

Huawei recorded CNY 395 billion ($60.8 billion) in 2015 revenues, climbing 37% year-on-year. Net profit for the year was reported at CNY 36.9 billion, a 33% increase compared to the previous year.

Huawei’s Carrier Business Group generated CNY 232.3 billion in annual revenue, a 21% increase compared to 2014, with the company attributing most of the growth to the widespread rollout of LTE networks.

Huawei’s Enterprise Business Group generated CNY 27.6 billion in revenues last year, surging 44% year-over-year. Huawei’s enterprise business experienced rapid growth in the public safety, finance, transportation and energy sectors.

Meanwhile, Huawei’s Consumer Business Group reported a 73% increase in revenue to CNY 129.1 billion ($19.9 billion).

“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,” said Guo Ping, deputy chairman and rotating CEO at Huawei. “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.”

The Chinese vendor passed other key global competitors such as Ericsson, Nokia Networks and Cisco in terms of global sales.

In January, Ericsson announced 2015 global sales of SEK 246.9 billion ($30.43 billion), climbing 8% versus the previous year. Ericsson said it had experienced higher sales in India, China and North America. Ericsson’s net profit for the year totaled SEK 13.7 billion, an increase from SEK11.1 billion in 2014.

Nokia previously announced 2015 sales of 12.5 billion euros ($14.24 billion), climbing 6% compared to revenues of 11.8 billion euros in 2014. Nokia recorded a net profit of 1.19 billion euros for 2015, down 56% year-over-year.

Meanwhile, Cisco reported revenues of $42.9 billion for its 2015 fiscal year ended July 25, up 4.3% year-on-year. Net profits for fiscal 2015 totaled $9 billion, up 14.4% compared to fiscal 2014. For the first two quarter of fiscal 2016 ended Jan. 23, the U.S. company recorded revenues of $24.6 billion, nearly flat year-on-year.