Huawei books quickest profit growth in four years
Updated: 2014-03-31 13:35
(Agencies)
|
|||||||||||
|
A man looks at a Huawei mobile phone as he shops at an electronic market in Shanghai January 22, 2013. [Photo/Agencies] |
SHENZHEN/BEIJING - China's Huawei Technologies Ltd, the world's No 2 telecommunications equipment maker, reported its fastest profit growth in four years as expansion in enterprise and consumer revenue far exceeded growth in its network building division.
The unlisted company has benefited from companies investing heavily in cloud and mobile computing, while it has shipped so many mobile handsets that it became the world's third-biggest smartphone manufacturer last year.
|
|
In 2013, net profit rose 34.4 percent to 21 billion yuan ($3.38 billion), the company said in a statement on Monday. Operating profit was 29.1 billion yuan, compared with the company's forecast range of 28.6 billion yuan to 29.4 billion yuan.
"Thanks to the favorable global macroeconomic and industry environment, as well as the effective execution of our company strategy, Huawei basically achieved our business targets for 2013," Eric Xu, Huawei's rotating and current chief executive, said in the statement.
The company expects revenue to grow 10 percent this year, and is eyeing total sales of $70 billion by 2018, executives said at a press conference in Shenzhen on Monday.
Revenue in 2013 reached a record 239 billion yuan versus company guidance of 238 billion yuan to 240 billion yuan, as profit margins improved for the second year in a row.
Revenue growth in China, Huawei's second-largest market after Europe, the Middle East and Africa, grew 14 percent from 2012 to account for over one-third of total sales.
Revenue growth in Huawei's enterprise and consumer businesses was 32 percent and 18 percent respectively.
Huawei's carrier network business grew just 4 percent but accounted for 166.5 billion yuan, or 70 percent, of revenue.
|
|
Related Stories
Huawei spying betrays blatant US hypocrisy 2014-03-26 16:56
Beijing slams spying on Huawei 2014-03-25 07:16
Report: NSA targeted Chinese tech giant Huawei 2014-03-24 09:06
Huawei a major player in China-EU relations: envoy 2014-03-20 22:04
Huawei set to become No 2 smartphone vendor 2014-03-20 16:26
China's Huawei leads patent application in Europe 2014-03-07 20:06
Today's Top News
Partnership with Belgium, EU highlighted
Turkish PM wins local elections
Monday's search for MH 370 resumes: AMSA
Families of flight MH370 passengers 'need closure'
Greece passes new reform bill
Dobass demonstrators demand referendum
MH370 relatives demand answers
Turkey starts local elections
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
President Xi visits western Europe |
Reforms give NGOs a level playing field |
Crossing the great relationship divide |
Baby hatches raise controversy |
Diaries shed lights on massacre |
Naturists on the path to acceptance |