Huawei released its audited annual report for 2014. The Chinese tech giant posted record revenue of $46.5 billion and net profit of $4.5 billion - up 20.6% and 32.7% respectively from the previous year.
The companys Consumer Business Group which designs and manufactures smartphones and tablets saw its annual revenue grow by almost a third (32.6%) from 2013 to $12 billion. Healthy demand for the companys smartphones and tablets drove the revenue bump.
The manufacturer invested $6.6 billion for research and development in 2014. That is 14.2% of Huaweis revenue and 29.4% more than in 2013. Overall, the company has spent a whopping $30.7 billion on R&D over the past decade.