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Huawei's profits rise by 33% in 2014

Discussion in 'Market Review - Latest Prices - Offers' started by GsmDude, Mar 31, 2015.

  1. GsmDude

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    Increase in profits and revenue attributed to global demand for 4G infrastructure along with strong smartphone sales.

    Huawei recorded an increase in revenue to the tune of 21 percent, and a 33 percent growth in profits from 2013. The Chinese manufacturer netted overall revenues of 288.2 billion Yuan ($46.4 billion), with profits totaling 27.9 billion Yuan ($4.5 billion). The growth was attributed to healthy smartphone sales, with Huawei selling over 75 million handsets last year.

    Increased global adoption of 4G services also played a key role in Huawei's success in 2014, with the vendor collaborating with several carriers around the world to provide telecommunications equipment. While Huawei has faced several hurdles in entering key markets like the U.S., the brand is doing remarkably well in other regions — such as Europe and India — with its Honor lineup of handsets, the latest of which is the dual 8MP camera toting Honor 6 Plus.

    Huawei will be aiming to continue that momentum into 2015, with upcoming handsets such as the Ascend P8 set to launch in the coming months. According to a listing on China's TENAA, the device features a 5.2-inch full-HD display, 64-bit octa-core Kirin 930 chipset, 3GB RAM, 32GB storage and a microSD card slot. The smartphone will feature a metal body with thin bezels, and is expected to make its debut during Huawei's April 15 event in London.

    Source: Reuters