Global Technology solutions provider Huawei has released its audited financial results for the year end 31st December 2016, which show that the Europe, Middle East and Africa (EMEA) region is now the firm’s second largest revenue contributor.
Thanks to growing technology solutions uptake in Africa among other regions in the EMEA, Huawei Group’s annual revenue jumped to Kshs 7.7 trillion (US$75.1 billion) representing a 32% growth over the previous year.
The firm’s trading results indicates that the EMEA region contributed Ksh2.2 Trillion ($ 22 billion) in revenue coming in second after China which is the firm’s largest market.
Huawei Kenya Director Government Affairs and Public Communications Cyril Liang Xu said said Huawei serves more than 800 million people in over 200 cities across over 80 countries and regions in Europe, Africa, and Asia-Pacific innovations.
He added that: “We believe that this fiscal year will see us deepen our roots into the market by collaborating with companies such as Safaricom and the ICT Authority to offer Kenyans need based innovative technologies.”
In 2016, Huawei continued to invest in the future, with the company’s annual spending on research and development reaching Ksh1.1 trillion ($11 billion. Huawei will strive to offer relevant innovative solutions in their daily operations across all sectors of the Kenyan economy.
Untapped potential
The Kenyan market is progressive in technology as noted in its mobile penetration rate of 88% and internet users standing at 69.6%. The market still has untapped potential which, in the near future, Huawei plans to venture into through innovations such as the smart transport and smart grid ICT solutions to curb urbanization challenges, 5G internet connections and Internet of Things technology to ease life processes.
“Digitization and increasing intelligence present huge business opportunities for all industries, and are also paving the road for new growth for the ICT industry, “remarked Eric Xu, Huawei Rotating CEO.
Thanks to its increasingly innovative products and growing global recognition as a premium device brand, Huawei’s Consumer BG shipped 139 million smartphones during 2016, and reported approximately Kshs 2.7 trillion (US$25.9 billion) in annual revenue, up 44%.
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