"We are well positioned to capture the tremendous business opportunities"

Huawei reports increase in net profit

Tablet vendor Huawei has revealed in its annual report that its profits rose by a third last year.

The Chinese tech company said that its net profit was 27.9 billion yuan (£3 billion), up from 21 billion yuan in 2013.

Profits were up thanks to the company’s pipe strategy as well as improvements to the businesses overall efficiency.

Ken Hu, deputy chairman of the board and rotating CEO at Huawei, said: "Our strong revenue growth in 2014 can be attributed to a continuous focus on our pipe strategy, while profit increase stems from streamlined management and improvements in overall efficiency.

"With heavy investment in innovations in areas such as cloud computing, big data, 5G, SDN and NFV, we believe we are well positioned to capture the tremendous business opportunities in this digital transformation era."

Huawei has also revealed plans to continue to invest in innovation, and in 2014 the company invested 40.8 billion yuan into research and development.

Hu added: "Together with our customers and partners, we are committed to building a better connected world with our innovative ICT products, solutions and services, thus creating value for social progress."

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