Huawei's net profits from telecom boom
By Zhu Shenshen |
January 22, 2013, Tuesday
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Print Edition
Print Edition
NET profit at Huawei Technologies Co jumped 33 percent last year as it tapped the booming telecommunications carrier business and smartphone sales, the world's No. 2 telecom equipment maker said yesterday.
Huawei's unaudited net profit totaled 15.4 billion yuan (US$2.5 billion) in 2012, up from 11.6 billion yuan in 2011. Its revenue rose 8 percent to 220.2 billion yuan last year, according to Cathy Meng, Huawei's chief financial officer.
"Huawei will increase investments and strengthen risk management to lay a solid foundation for sustainable growth in the future," Meng said in a statement. She expected Huawei's revenue to grow 10 to 20 percent this year.
Huawei's overseas income accounted for 66 percent last year, mainly contributed by overseas telecom carriers in Europe, Asia and Africa.
Huawei's results were better than its Chinese rival Shenzhen-listed ZTE. On Sunday, ZTE said it expects a loss of 2.5 billion to 2.9 billion yuan in 2012.
Huawei's unaudited net profit totaled 15.4 billion yuan (US$2.5 billion) in 2012, up from 11.6 billion yuan in 2011. Its revenue rose 8 percent to 220.2 billion yuan last year, according to Cathy Meng, Huawei's chief financial officer.
"Huawei will increase investments and strengthen risk management to lay a solid foundation for sustainable growth in the future," Meng said in a statement. She expected Huawei's revenue to grow 10 to 20 percent this year.
Huawei's overseas income accounted for 66 percent last year, mainly contributed by overseas telecom carriers in Europe, Asia and Africa.
Huawei's results were better than its Chinese rival Shenzhen-listed ZTE. On Sunday, ZTE said it expects a loss of 2.5 billion to 2.9 billion yuan in 2012.
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