Even as the Chinese market for smartphones starts to cool off with its maturity and an ongoing struggle to break into markets like the U.S., Huawei managed to achieve some impressive growth and financial results for 2015 according to an open letter from their acting chief executive Guo Ping. On a “solid increase in profits and cash flow” Huawei says 2015 revenues increased 35% compared to the prior year reaching 390 billion yuan ($60.1 billion USD).
Huawei said they achieved shipments of 100 million handsets in 2015, which was a 33% increase compared to the prior year. They attributed much of this success to their Honor line of smartphones that are attracting “young, tech-savvy buyers.” IDC has previously found that Huawei’s shipments in the third-quarter grew by 61% which eclipsed the global smartphone market’s 6.8% growth rate.
Huawei’s Guo says the company is investing about 50 billion yuan ($7.7 billion USD) on research and development and another 60 billion yuan ($9.2 billion USD) on other operating costs to support their efforts. A key driver for future success will be making sure they make smart moves into new markets.
source: Wall Street Journal
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