Huawei has reported record revenue and profit for 2014, as the company benefited from strong demand for smartphones and 4G technology.
The vendor grew its group net profit by 32.7% to 27.9 billion yuan ($4.5 billion), on the back of a 20.6% increase in group revenue to 288.2 billion yuan.
Revenue from Huawei's core carrier business group increased by 16.4% to 192.1 billion yuan, with a strong contribution from 4G and other mobile broadband network rollouts worldwide.
Consumer business group sales meanwhile rose 32.6% to 75.1 billion yuan due to growing consumer demand for smartphones, particularly in emerging markets.
Broken down by region, Huawei earned 52.5% of its revenue from APAC, including 37.8% from China. EMEA accounted for 35% and the Americas made up the remaining 10.7%.
”Our strong revenue growth in 2014 can be attributed to a continuous focus on our pipe strategy, while profit increase stems from streamlined management and improvements in overall efficiency,” Huawei rotating CEO Ken Hu commented.
“With heavy investment in innovation in areas such as cloud computing, big data, 5G, SDN and NFV, we believe we are well positioned to capture the tremendous business opportunities in this digital transformation era.”