Huawei reports 30 per cent net profit rise in 2010

Huawei Technologies today released its audited full-year 2010 financial results highlighted by sales revenues of CNY 185.2 billion (US$28.4 billion), a 24.2 per cent growth over the previous year. Huawei also reported an increased net profit of CNY 23.8 billion, up 30 per cent from 2009, and net profit margin of 12.3 per cent.

Huawei maintained steady growth in 2010 on the back of notable expansion in overseas markets as well as continued development in its three core business divisions – Telecom Networks, Global Services, and Devices. By the end of 2010, Huawei had deployed over 80 SingleRAN networks for operators, among which 28 LTE networks were commercially launched or ready to be launched. Huawei also shipped 120 million devices around the world.

The company also launched its enterprise business in 2010 and intends to dedicate extensive resources to further develop this offering, which provides network infrastructure, fixed and wireless communication, data centre, and cloud computing solutions for global industry and enterprise customers.