Huawei’s revenue up 19.1pc in 2019

Special Correspondent

1 April, 2020 12:00 AM printer

Huawei Technologies on Tuesday said its full-year revenue jumped 19.1 percent in 2019 to US$123 billion. 

Huawei has released its 2019 Annual Report on Tuesday in Shenzhen, China, detailing a solid business performance, said a press release.

The company’s global sales revenue in 2019 rounded off at $123 billion, up 19.1 percent year-on-year; its net profit reached $8.83 billion.

Its cash flow from operating activities topped US$ 12.88 billion, up 22.4 percent year-on-year.

As part of a long-term, ongoing investment in technological innovation and research, Huawei invested 15.3 percent of its 2019 revenue – or $18.5 billion – back into research and Development (R$D).

“2019 was an extraordinary year for Huawei," said Eric Xu, Huawei's Rotating Chairman. "Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers. We worked hard to earn their respect and trust, as well as that of our partners around the globe. Business remains solid.”

In 2019, Huawei's carrier business led the commercial rollout of 5G networks. To further commercial adoption and promote new innovation in 5G applications, the company established 5G joint innovation centers together with carriers worldwide.