Hikvision 2017 annual report reveals revenue growth of 31.22%
Hikvision, the world’s leading supplier of innovative video surveillance products and solutions, has published its annual report for 2017. This shows a 31.22% growth in overall revenues, with sales revenue up from RMB 31.93 billion in 2016 to RMB 41.91 billion in 2017. Collectively, the figures demonstrate an increase in operating profits of 26.77%.
Hikvision was able to achieve these impressive financial results due to a number of factors. These include optimized R&D systems and processes, development of solutions for vertical industry sectors, and customization of solutions in line with changing market needs. Improved product delivery capabilities and strengthened sales and service networks have also contributed to the company’s success in 2017.
Keen Yao, VP at Hikvision International Business Centre, says, “Our investments in R&D, both in IoT technologies and video surveillance, enable us to continuously innovate our solutions and provide innovative, cutting-edge technology and products that are tailored to the needs of worldwide partners and customers.”
In addition to major investments in R&D, Hikvision is setting up a three-layered service system, with a global customer service center, regional customer service departments in branch offices, and authorized Hikvision customer service stations. “Our new service model will enable us to better support customers around the world with multi-dimensional services including product delivery, project delivery, software deployment, system operation, maintenance and support, and more,” says Keen Yao.