Huawei announced a sharp increase in profit in 2021
Ms. Manh Van Chu, Chief Financial Officer of Huawei shares about financial capacity
On March 28, with the first appearance of Chief Financial Officer Manh Van Chu after a long absence, Huawei officially announced its business results for 2021. Accordingly, this business achieved a revenue of 99, $88 billion in 2021, net profit reached $17.85 billion, up 75.9% over the same period last year. Huawei spent $22.4 billion on research and development (R&D) in the past year, accounting for 22.4% of total revenue and contributing to the total R&D expenditure over the past 10 years to more than $132.66 billion. Looking to the future, Huawei said it will continue its strategy to further increase investment in R&D.
Ms. Meng Wanzhou, Huawei’s Chief Financial Officer, added: “Despite a decline in revenue in 2021, our ability to generate profits and generate cash flow is increasing, as is our capacity for deal with a future of significantly increased uncertainty”.
Speaking at the press conference, Mr. Guo Ping, Huawei’s Rotating Chairman, said: “Overall, Huawei’s 2021 performance is in line with the previous forecast. The telecommunications infrastructure solutions business is maintained. stable, the enterprise solutions business grew, and the consumer devices business rapidly expanded into new areas. In addition, we embarked on a rapid ecosystem development” .
Mr. Guo Ping, Rotating Chairman of Huawei
In 2021, Huawei’s telecommunications infrastructure solutions business achieved $ 44.19 billion in revenue and supported carriers around the world to deploy leading 5G networks. An independent third-party report shows that the 5G network built by Huawei for customers in 13 countries offers the best user experience, especially Switzerland, Germany, Finland, the Netherlands, and South Korea. and Saudi Arabia. By working with carriers and partners, Huawei has signed more than 3,000 commercial contracts for industrial 5G applications. These 5G applications are now widely commercialized on a large scale in areas such as manufacturing, mining, iron and steel factories, seaports and hospitals.
Thanks to the continued explosive growth of digital transformation, Huawei’s enterprise solutions business is also growing rapidly, generating $16.08 billion in revenue in 2021. Last year, Huawei launched 11 solutions. Responds to scenarios for: government, transportation, finance, energy and manufacturing. The company also established many specialized personnel teams, including Coal Mining Team, Smart Traffic Team, Customs and Seaport Team, to combine resources and meet customers’ needs more efficiently. More than 700 cities and 267 Fortune Global 500 companies have chosen Huawei as their digital transformation partner. Huawei also now cooperates with more than 6,000 service and operations partners around the world.
Huawei’s consumer device business focuses on the needs and desires of consumers, and further is building a global ecosystem to create an era of smart and connected things – part of the Seamless strategy AI Life – Seamless life with AI for global consumers by Huawei. This segment generated revenue of $38.21 billion in 2021 and recorded steady sales growth in the smart wearables, smart displays, and wireless audio headsets. (TWS) and Huawei Mobile Services (HMS). In particular, the smart wearable and smart display segments both grew by more than 30% over the same period last year. In total, HarmonyOS has been used on 220 million Huawei devices as of 2021, making it the world’s fastest-growing mobile operating system.
During the past year, Huawei also focused on building openEuler, MindSpore and HarmonyOS ecosystems based on the principles of open cooperation and mutual growth. More than 8 million developers are using Huawei’s open platforms, open source software and tools to build new scenarios and business models.
Sharing about the future vision, Chairman Guo Ping emphasized: “In the near future, Huawei will continue to promote digitization, smart transformation and low carbon. With a talented staff, scientific research efforts. and a spirit of relentless innovation, we will increase our continued investment to reshape the right models with new theoretical foundations, architectures, software, and strengthen our long-term competitive position by Huawei”.
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