Despite being boycotted by the United States (US), in 2021 Huawei posted revenues of CNY 636.8 billion in 2021. Meanwhile net profit was recorded at CNY 113.7 billion, an increase of 75.9% year on year (yoy).
R&D spending totaled CNY142.7 billion. Represents 22.4% of total revenue. In the future, the company plans to increase R&D investment. Huawei's Rotating Chairman Guo Ping said the operator's business remained stable.
"We are taking a fast track for ecosystem development," said Guo, in a release to Kontan.co.id, this week.
Meng Wanzhou, CFO of Huawei said, despite the decline in revenue, the ability to generate profits and improve cash flow continues to grow.
In 2021, the carrier business generated CNY 281.5 billion in revenue. The results of third-party testing found that the 5G network that Huawei built in 13 countries provided the best experience for users.
By working closely with operators and partners, Huawei has signed more than 3,000 commercial contracts for 5G industrial applications. 5G applications are currently being used for large-scale commercial in sectors. Such as manufacturing, mining, iron & steel factories, ports, and hospitals.
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