Huawei Technologies, China’s biggest telecom equipment and smartphone maker, today published its 2018 annual report.
In 2018, Huawei’s revenue reached 721.2 billion yuan, an increase of 19.5% from a year earlier. Net profit was 59.3 billion yuan, represented a year-on-year increase of 25.1%.
Among the various businesses, the consumer business replaced the carrier business for the first time and became the largest contributor to Huawei’s revenue. The consumer business reported revenue of 348.9 billion yuan, a year-on-year increase of 45.1%, and accounting for 48.4% of the total revenue.
Carrier business revenue was 294 billion yuan, down 1.3% year-on-year. Huawei’s corporate business revenue was 74.4 billion yuan, a year-on-year increase of 23.8%.
Huawei said that its research and development expenses in 2010 were 101.5 billion yuan, accounting for 14.1% of revenue. Huawei has invested more than 480 billion yuan in research and development in the past decade.
According to data released by the United Nations’ World Intellectual Property Organization (WPO), in 2018, Huawei submitted 5,405 patent applications to the agency, ranking the first among all enterprises in the world.