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Huawei profits up 33% in 2012

Chinese telecoms equipment vendor Huawei has released its results for 2012, with global sales revenue up 8% annually to reach CNY 220.2bn (US$ 35.38bn), of which two thirds came from outside China.

Even more impressively, the company has achieved a 33% increase in net profits to CNY 15.4bn, attributing this strong performance to streamlining its management, improving efficiency, and maximising value for the customer.

Cathy Meng, CFO of Huawei

Cathy Meng, CFO of Huawei

“We insist on strictly controlling G&A expenses and allocate more resources to bolster the front line and ensure continuous improvements on customer delivery and service quality,” said Cathy Meng, CFO at Huawei.

“In addition, Huawei continued its ongoing management transformation, raising combined operating efficiency with an integrated financial services programme.”

Of last year’s CNY 220.2bn total turnover, the Asia-Pacific region generated CNY 37.4bn, while Europe, Middle East and Africa recorded CNY 77.4bn and the Americas contributed CNY 31.8bn. China recorded CNY 73.6bn.

On a divisional basis, Huawei’s Carrier Network business accounted for CNY 160.3bn of the overall total, while the Consumer business recorded robust sales revenue of CNY 48.4bn, and the Enterprise business generated sales revenue of CNY 11.5bn.

The equipment vendor is upbeat about its immediate prospects too: Ms. Meng projects that overall revenues will grow 10-12% in 2013.

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