Huawei (News - Alert), a global information and communications technology (ICT) solutions provider, released its audited 2012 financial results on Monday, presenting stable business growth with sales revenue of $220.19 billion and net profit of $15.38 billion.

Huawei also predicted a compound annual growth rate of 10 percent over the next five years.

"In 2012, Huawei met business performance expectations through improved operational efficiency," Guo Ping, Huawei's Rotating and Acting CEO, said in a statement as seen on the company’s website. "Today, telecom networks are yet to meet the requirements for ubiquitous connections - zero wait time, ultra broadband and smart applications.”

In 2012, Huawei invested a little over $30 billion of its total sales revenue into research and development. The company has established 16 research and development centers and 28 joint innovation centers worldwide. Huawei’s business growth is credited to the success of its three business groups (BG): The Carrier Network BG, The Enterprise BG, and The Consumer BG.

These groups helped generate $73.6 billion in revenue out of China alone – an increase of 12.2 percent year-on-year.

“In the future,” said Ping, “ICT will continue to grow, with new opportunities coming from cloud computing, BYOD (Bring Your Own Device), and big data, and feature phones being replaced by smartphones at a faster rate. Huawei will continue to focus on its pipe strategy, integrate and develop businesses around the information pipe, and create value for customers, while achieving sustainable and effective growth."

Huawei, established in Shenzhen, China in 1987, is an ICT solutions provider that focuses on its customer’s insights and feedback to guide its priorities.