The company registered 62.7 billion yuan of net profit last year, increasing 5.6 percent year on year, down from a 25.1-percent increase in 2018.
"2019 was an extraordinary year for Huawei," said Eric Xu, rotating chairman of the company, noting that despite enormous external pressure, Huawei managed to stay afloat facing unprecedented challenges.
Revenue from Huawei's consumer business accounted for more than half of the company's total gain in 2019, representing a robust growth of 34 percent year on year to 467.3 billion yuan, with revenue from enterprise and carrier business segments also increasing.
The company shipped more than 240 million smartphones in 2019 and further improved a customer-centric all-scenario smart ecosystem based on its non-smartphone products including PCs, tablets, wearables and smart screens.
"Our carrier business has been leading the commercial rollout of 5G networks worldwide," Xu said. In 2019, the company established 5G joint innovation centers together with carriers in Europe.
Huawei's R&D expenditure totaled 131.7 billion yuan last year, accounting for 15.3 percent of its total annual revenue. The company has invested over 600 billion yuan in R&D over the past decade.
The COVID-19 outbreak has disrupted commercial and economic activities in China and certain countries around the world, the company said.
Huawei said it has resumed production in China and is working with global partners to address the impact of the pandemic, which might have long-term impact on supply chains.
"The external environment will only get more complicated going forward," Xu said. "We need to keep enhancing the competitiveness of our products and services, promoting open innovation and creating greater value both for our customers and society at large."
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