Hikvision has published its annual report for 2017 showing 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 claims it was able to achieve these financial results due to a number of factors. These include optimised R&D systems and processes, development of solutions for vertical industry sectors, and customisation 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”
In addition to investments in R&D, Hikvision is setting up a three-layered service system, with a global customer service centre, regional customer service departments in branch offices, and authorised 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.
