Huawei, a global ICT solutions provider, has posted net profits of CNY47.5 billion ($7.3 billion) for 2017, marking an increase of 28.1 per cent year-on-year.

The company's total annual revenue was CNY603.6 billion ($92.5 billion based on year-end exchange rates), an increase of 15.7 per cent over 2016. Net profits were

In Huawei's consumer business, the Huawei and Honor brands ran full speed ahead, leading to rapid growth in their respective markets. Huawei shipped a total of 153 million smartphones (including Honor) in 2017 and reported CNY237.2 billion ($36.4 billion) in annual revenue, up 31.9 per cent year-on-year.

Huawei’s flagship products, the Huawei P and Mate series, were hits among consumers around the world, boosting Huawei’s influence in the global high-end market. Overall shipments of the Huawei P10 and Huawei Mate 9 series exceeded 20 million units.

The year was a year of market breakthroughs for the G and Y series, and multiple mid-range Honor models. A solid combination of performance and price competitiveness led to rapid, large-scale growth. – TradeArabia News Service