Global Technology solutions provider Huawei has released its audited financial results for the year end 31st December 2016. The report indicates Europe, Middle East and Africa (EMEA) region is now the firm’s second largest revenue contributor.
Huawei Group’s annual revenue jumped to Kshs 7.7 trillion (US$75.1 billion) representing a 32% growth over the previous year.
The firm’s trading results indicates that the EMEA region contributed Kshs 2.2 Trillion in revenue, coming in second after China which is the firm’s largest market.
While confirming the firm’s commitment to the local and African market, Huawei Kenya Director Government Affairs and Public Communications, Cyril Liang Xu said it is their dream to build a better connected world.
”As seen through our offerings in Kenya; our competitively priced smartphones, our Safe City security solutions that now serve more than 800 million people in over 200 cities across over 80 countries and regions in Europe, Africa, and Asia-Pacific innovations, and Seeds for the Future youth training programs amongst others, we aim to achieve an overall sustainable world.”
In 2016, Huawei continued to invest in the future, with the company’s annual spending on research and development reaching Kshs 1.1 trillion.
The Kenyan market is progressive in matters technology as noted in its mobile penetration rate of 88% and internet users standing at 69.6%.
“In 2016, Huawei maintained its strategic focus and achieved solid growth. We will stay customer-centric and will support digital transformation in all industries. This is to create value for our customers and to grow sustainably, “remarked Eric Xu, Huawei Rotating CEO.
Working in close collaboration with its partners, Huawei’s Enterprise BG delivered ICT infrastructure to support the digital transformation of key vertical industries, including finance and energy, government bodies, and public safety. This business generated approximately Kshs 607 billion in annual revenue, an increase of 47%.
Huawei’s Consumer BG shipped 139 million smartphones during 2016, and reported approximately Kshs 2.7 trillion in annual revenue, up 44%.
Huawei had healthy operations in 2016 with ample cash reserves, a solid and sustainable capital structure, and high resilience against risk.
In 2017, Huawei aims to continue boosting the efficiency and quality of their operations to ensure solid growth.