Huawei saw its profits up 33 percent in 2015 as strong revenue growth in its consumer group and other units drove expansion.
The Chinese electronics maker and networking giant saw total profit of $5.7 billion for the year.
Revenues were up 37 percent year on year, reaching $60.8 billion.
The strong growth was seen across the company’s divisions, with the Carrier Business Group generating $35.8 billion in annual revenue, an increase of 21 percent year-on-year. Huawei attributed this growth to the widespread roll-out of 4G networks, for which Huawei provides network architectures.
The enterprise business group was another large grower, with annual revenue up 44 percent to $4.3 billion. The public safety, finance, transportation and energy sectors were the key drivers.
However, the largest growth was in the consumer business group, which saw revenues rise 73 percent year-on-year to reach $19.9 billion.
Huawei cited "increased demand for high-quality products that deliver a premium user experience, as well as Huawei’s growing influence as a consumer brand."
Key to this has been brands such as the Honor smartphones, which topped 20 million devices in the first six months of 2015, producing $2.63 billion in sales revenue. In a validation of Huawei’s strategy of pushing the Honor device outside of China, overseas shipments of the devices made up 3 million of the 20 million sold.
Research from Strategy Analytics revealed that Huawei became the third largest mobile phone vendor in the world in Q2 2015.
Guo Ping, Huawei’s deputy chairman and rotating CEO, remarked, "In part, Huawei owes its long-term growth to the sheer size of the ICT market, which is the driving force of digital economies around the world. However, our growth is also a direct result of strategic focus and heavy investment in our core businesses."
Ping said that the company would concentrate on enhancing connectivity, enabling the development of vertical industries and redefining capabilities over the next three to five years.
