Chinese telecom device maker Huawei realized global sales of CNY521.6 billion, a year-on-year increase of 32%; and it realized net profit of CNY37.1 billion, a year-on-year increase of 0.4%.

According to the company's annual financial report, Huawei's three major business lines — carrier, enterprise, and device — achieved stable growth in 2016. At the same time, the company continued to invest for the future and its research and development expense reached CNY76.4 billion during the reporting period.

For the carrier business sector, Huawei focused on digital transformation and seized opportunities like cloud computing services, streaming video, Internet of Things, and operational transformation. The company's sales in this sector increased by 24% year-on-year to CNY290.6 billion in 2016.

For its enterprise business sector, Huawei focused on information and communication technology infrastructure and cooperated with partners to promote the digital transformation of important industries, including public safety and government, finance, and energy. In this sector, Huawei's sales achieved a year-on-year increase of 47% to CNY40.7 billion.

In regards to its consumer business, Huawei's smartphone shipments in 2016 reached 139 million units and it achieved sales of CNY179.8 billion, a year-on-year increase of 44%.