Huawei released its 2019 annual report on Wednesday, detailing a solid business performance.
The company’s global sales revenue in 2019 rounded off at $123 billion, up 19.1% year-on-year; its net profit reached $9 billion; and its cash flow from operating activities topped $13.1 billion, up 22.4% year-on-year. As part of a long-term, ongoing investment in technological innovation and research, Huawei invested 15.3% of its 2019 revenue – or approximately $18.8 billion – back into R&D. Its total R&D spend over the past decade now exceeds $85.9 billion.
“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. Huawei’s Rural Star base station solutions can effectively address coverage problems in remote areas. These solutions are being used in over 50 countries and regions, bringing mobile Internet to more than 40 million people living in remote areas. In 2019, sales revenue from Huawei’s carrier business reached USD$42.5 billion, up 3.8% year-on-year.
Huawei’s consumer business continues to see robust growth, with a total of 240 million smartphones shipped throughout the year. The company reports further progress in developing the Seamless AI Life ecosystem across all scenarios and devices, including personal computers, tablets, wearables, and smart screens. In 2019, sales revenue from Huawei’s consumer business reached USD$66.9 billion, up 34% year-on-year.
All financial statements in the 2019 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2019 Annual Report, visitwww.huawei.com/en/press-events/annual-report/2019.
