Huawei didn’t have the greatest 2016 thanks to an increasingly difficult wireless market and some uncontrollable political and economic situations, but that’s not stopping them from setting the bar high for 2017. They’re expecting a 32% increase in revenue from 2016, which is actually down about 5% from 2015, but they’re hopeful they can shake things up for next year.
The Chinese based company is the third largest smartphone manufacturer in the world, just behind Apple and Samsung, but they also make a significant chunk of their business from selling network equipment. Unfortunately for Huawei, that kind of business is particularly vulnerable to political swings and 2017 will likely be even more shaky for that aspect of their revenue. To counter that, Huawei wants to zero in on customer needs and make an effort to be a more efficient business.
Some of the steps to become more efficient include trimming up aspects of the business that aren’t doing much of anything besides wasting money and time. Fancy internal promotional videos and excessive business meetings were some of the things that Huawei said they planned on eliminating, but that’s definitely going to be a long list.
On the customer side of things, Huawei wants to become a market leader instead of a follower. Instead of simply reacting to what customers want, Huawei wants to be in a position to dictate the direction of the market and create products that will keep Huawei front and center in wireless. They plan on investing in research and development centers across the globe, and although that won’t immediately help 2017’s bottom line, it paints a strong outlook for the company’s future.