Muscat: Huawei released its audited financial results for 2017, reporting solid business growth with company's total annual revenue at $92.5 billion (based on year-end exchange rates), an increase of 15.7 per cent over 2016. Net profits were $7.3 billion, an increase of 28.1 per cent year-on-year.
In Huawei's consumer business, the Huawei and Honor brands ran full speed ahead, leading to rapid growth in their respective markets. Huawei shipped a total of 153 million smartphones (including Honor) in 2017, and reported $36.4 billion in annual revenue, up 31.9 per cent year-on-year.
In 2017, the company’s dual Huawei and Honor brand strategy took the market by storm. Together, the two brands provide a full portfolio of flagship products. Focusing on innovative features and superior experience, the Huawei brand made many breakthroughs in the high-end market, served a wider audience, and worked hard to deliver the best possible end-to-end experience to consumers. Honor delivered stylish new tech, striving to become an online-only mobile brand that stakes a solid claim in the hearts of younger generations. We made the following achievements in 2017:
Huawei’s flagship products, the HUAWEI P and Mate series, were hits among consumers around the world, boosting Huawei’s influence in the global high-end market. Overall shipments of the HUAWEI P10 and HUAWEI Mate 9 series exceeded 20 million units.
The HUAWEI nova series and Honor’s dual flagship series (the V and digital flagship series) further enhanced their presence, with a striking combination of technology and aesthetics. They became trendsetters among young, fashion-savvy consumers, and were generally well received.
This was a year of market breakthroughs for the G and Y series, and multiple mid-range Honor models. A solid combination of performance and price competitiveness led to rapid, large-scale growth.
Brand awareness, recognition, and reputation are growing among global consumers, and our market share has risen rapidly.
Some of the major breakthroughs achieved in 2017 include:
Huawei and Honor smartphones together secured more than 10 per cent of the global market share. The company is now firmly positioned among the top three phone makers in the world. Its overall global brand awareness increased from 81 per cent in 2016 to 86 per cent in 2017. Outside of China, brand awareness rose from 64 per cent to 74 per cent.
The number of consumers considering a Huawei device in non-Chinese markets saw a year-on-year increase of 100 per cent, which put Huawei among the top three global vendors in this category for the first time.
The company’s flagship products remained bestsellers after their launch, which raised the market share of our high-end models priced over $500 to over 10 per cent.
Huawei’s smart devices have also been well received in regional markets.
Huawei (including Honor) held onto the largest share of the smartphone market in China. We became the most recommended brand in China’s mobile phone industry — a first for a Chinese brand. This award was issued to us by leading brand rating agency, Chnbrand, based on the China Net Promoter Score Index (C-NPS).
In Europe, Huawei smartphones won high acclaim from consumers in countries such as Germany, Finland, Denmark, Spain, and Italy, improving both our market share and reputation. Huawei ranked as the second most considered brand in a portion of these countries.
In Asia Pacific, Huawei made new breakthroughs in Japan, Malaysia, and Thailand, where market shares continue to grow. In key countries like Japan, brand consideration doubled.
In Latin America, the Middle East, and Africa, Huawei’s smartphone business grew steadily, with a market share of over 15 per cent. In key countries including the UAE, Saudi Arabia, South Africa, Mexico, and Colombia, Huawei ranked in the top three for brand consideration, and the gap between Huawei and the top two brands continues to shrink.