New Delhi March 30 (IANS) Eyeing the growth-driven Cloud Internet of Things (IoT) and 5G markets Shenzhen-based Huawei on Friday reported net profit of 47.5 billion yuan ($7.3 billion) for 2017 an increase of 28.1 per cent year-on-year and registered revenue of 603.6 billion yuan ($92.5 billion) -- a rise of 15.7 per cent over 2016.
In 2017 Huawei s annual investment in research and development reached 89.7 billion yuan ($13.8 billion) up 17.4 per cent compared with 2016.
The company s total R&D spend over the past decade has exceeded 394 billion yuan ($60.4 billion).
"We re on a new journey. Over the next 10 years Huawei will continue to increase investment in technological innovation investing more than $10 billion back into R&D every year " Ken Hu Huawei s Rotating Chairman said in a statement.
"We will actively pursue open collaboration attract and cultivate top talent and step up efforts in exploratory research. We want to better enable all industries to go digital and intelligent " Hu added.
Focusing on helping global carriers maximise the potential of their existing network assets and seize new opportunities in video Internet of Things (IoT) and Cloud markets Huawei s Carrier business group generated 297.8 billion yuan ($45.7 billion) in revenue an increase of 2.5 per cent year-on-year.
Huawei s enterprise business group enhanced innovations in cloud big data campus networks data centres IoT and other domains.
In 2017 the enterprise business generated 54.9 billion yuan ($8.4 billion) in revenue an increase of 35.1 per cent compared with 2016.
Huawei set up a Cloud Business Unit in 2017 which launched 99 cloud services across 14 major categories and over 50 solutions.
The company also unveiled the Enterprise Intelligence (EI) platform and developed over 2 000 cloud service partners.
"As we look to 2018 emerging technologies like IoT cloud computing Artificial Intelligence (AI) and 5G will soon see large-scale application " Hu added.
--IANS
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