Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Huawei, on Monday released its audited 2013 financial results, delivering record sales revenues and net profit.
According to its report, the company achieved a steady growth and sales revenues of 239 billion yuan ($ 38.4 billion), up 8.5% year-on-year (11.6% YOY growth in USD), and net profit of 21 billion yuan ($ 3.38 billion).
“Our significant global presence has helped us achieve stable and continuous growth in the carrier network, enterprise, and consumer businesses. In 2013, Huawei’s carrier network business delivered a solid performance, achieving 166.5 billion yuan in sales revenue, up 4.0% year-on-year,” Huwai said.
The sales revenues of the enterprise and consumer businesses increased tremendously in 2013, by 32.4% and 17.8% to 15.2 billion yuan and 57.0 billion yuan, respectively. Huawei earned 65% of its revenue from markets outside of China in 2013, and in the Chinese market, Huawei achieved 84 billion yuan in sales revenues, up 14.2% year-on-year.
In 2013, Huawei invested CNY30.7 billion ($ 5.06 USD billion) into R&D which is about 12.8% of its sales revenue. And, Huawei’s total R&D investment over the last 10 years exceeded 151 billion yuan. Huawei innovates based on customer needs and will increase its investment in basic scientific and engineering technologies as necessary to maintain its leadership position in core ICT technologies.