Global technology firm Huawei has embarked on a bold finetuning programme aimed at reviewing and enhancing its products and services as part of its business growth strategy.
The programme is meant to enhance Huawei’s digital technologies delivery capacity amid global business hurdles due to the pandemic, among other geopolitical and economic challenges.
Speaking at Huawei 18th Global Analyst Summit after the release of the tech firm’s 2020 Annual report, Huawei Rotating Chairman Eric Xu said the company’s growth strategy for 2021 is anchored on five strategic initiatives.
Xu said the initiatives were geared towards optimising the company’s existing products and services portfolio to boost its business resilience across the globe.
He added that Huawei will also strengthen its software capabilities and invest more in businesses that are less reliant on advanced process techniques and components for intelligent vehicles.
Xu said Huawei will maximise on the value of 5G technologies while moving to define 5.5G tech with industry peers to drive the evolution of mobile communications going forward.
The five-point strategy will also pay more attention to provision of a seamless, user-centric, and intelligent experience across all user scenarios, innovation to curb energy consumption for a low-carbon world and addressing supply continuity challenges.
The three-day 2021 event themed “Building a Fully Connected, Intelligent World”, attracted more than 400 delegates, including tech industry and financial analysts, key opinion leaders, and media representatives.
“As always, Huawei will keep creating value for its customers through quality products and services,” he said, adding that “Moving forward, we will continue to find ourselves in a complex and volatile global environment. The resurgence of Covid-19 and geopolitical uncertainty will present ongoing challenges for every organisation, business, and country,” said Xu.
He added, “We believe deeply in the power of digital technology to provide fresh solutions to the problems we all face. So, we will keep innovating and driving digital transformation forward with our customers and partners to bring digital to every person, home and organisation for a fully connected, intelligent world.”
In its 2020 Annual report, Huawei confirmed that through joint ventures with its business partners, the firm provided NCBA Bank with a new core digital service system in Kenya.
This system delivers inclusive financial services to users in Kenya and other East African states, enabling NCBA to offer economic liberation and promote sustainable social growth.
Huawei, which was established in 1987, is a leading global provider of information and communications technology (ICT) infrastructure and smart devices.
Xu noted that businesses have been forced to move to the cloud up to three years ahead of schedule as new technologies like AI continue to thrive across the globe.
He said company will focus on growing open ecosystems for shared success.
Xu said: “We believe that open collaboration is the only way forward. This is especially true in the ICT industry, where open collaboration and innovation across the entire global value chain are crucial to building greater resilience and promoting sustainable development for both businesses and society as a whole.”
In its recently released 2020 Annual Report, Huawei indicated that its total sales revenues topped US$136 billion, representing a 3.8 per cent year-on-year growth, while its net profit grew by 3.2 per cent to US$ 9 billion.
It attributed its growth to positive performance from its enterprise business which maintained a steady growth owing to the digital transformations in multiple industries.
Due to swelled venture in future-oriented research and innovation, branding, and ecosystem building, Huawei’s total operating expenses as a percentage of revenue shot up.