Huawei's annual earnings report is out and it's a mixed bag, since while turnover increased by 11.7 percent to 203.9 RMB ($32.3 billion), profits plummeted 53 percent to 11.6 billion RMB ($1.8 billion). Revenue from overseas sales (138.4 billion RMB) equated for over half the company's total income and it boasted of having sold 150 million consumer devices, including 20 million smartphones in the year. The company didn't provide reasons for the drop in profit, emphasizing that it's increased R&D spending by 34.2 percent to 23.7 billion RMB ($3.75 billion) and that in any event, it's got around $30 billion of
