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Huawei grew 0.4%, its lowest level since 2011

In a statement, the Chinese giant Huawei reported that its annual growth has translated into only USD $75100 million dollars.

This translates into a percentage growth of 0.4% compared to the same period of the previous year and is the lowest since the 2011.

Put on sale 139 million telephones, staying a million short in expectations (140 million).

At the same time, the company claims that it invested more than $11000 million in research and development.

Sabrina Meng, Chief Financial Officer of Huawei, said:

In operational terms, Huawei had good health in 2016, with large reserves of cash, a sustainable capital structure and a great resilience to risk. In 2017, we will continue promoting the efficiency and quality of our operations to ensure strong growth.

While Eric Xu, Rotary, the company’s CEO, said:

In 2016, we kept our strategic focus and achieve a consolidated growth. As mankind continues exploring and making new advances in the digital world, digitization, and the increase of intelligence have great business opportunities for all industries and pave the way for new growth in the ICT industry. We will keep our orientation to the customer and support digital transformation of all industries, with the aim of creating value for our customers and ensure the future growth of the group.

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