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Huawei reports booming business in 2013, with record profits and revenue

Huawei had a solid year in 2013, hitting records in terms of both revenue and profit according to its freshly released financial report for last year.

Revenue hit 239 billion yuan (£23 billion) which represented an increase of 8.5 per cent compared to 2012, and net profit rose to 21 billion yuan (£2.2 billion) – up by a third year-on-year, no less.

Business was strong across the board, the company reported – though all this was in line with expectations.

Eric Xu, Huawei's Acting CEO, commented: "Thanks to the favourable global macroeconomic and industry environment, as well as the effective execution of our company strategy, Huawei basically achieved our business targets for 2013."

The company's carrier business was up 4 per cent on 2012, but its enterprise and consumer divisions were the strongest performers, up 32 per cent and 18 per cent respectively (with Huawei's low-end smartphones performing nicely across the globe – the budget arena being set for significant growth in the future, too).

Huawei raked in 65 per cent of its cash from international markets, but its home market of China remained strong, with revenue up 14 per cent year-on-year.

Looking to the future, Xu noted that the company wants to drive further in the Enterprise market. He said: "2014 marks a new beginning, not only for Huawei, but for the entire industry. Huawei is still a young company, and the ICT industry is booming. A connected world has unlocked opportunities beyond our imagination. While continuing to pursue a more focused strategy and a leaner management style in 2014, we will work to expedite steady growth to lay a solid foundation for the company's development over the next 10 years, especially to pursue a leading position in the Enterprise business."