Huawei profit growth hits four-year high

Chinese telecoms hardware vendor sees surge in earnings from consumer, enterprise earnings

Tags: ChinaHuawei Technologies Company
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Huawei profit growth hits four-year high Smartphone shipments last year saw Huawei slip into third place in the global handset chart.
By  Stephen McBride Published  March 31, 2014

Chinese telecoms equipment vendor Huawei today announced its fastest earnings growth in four years, driven by its enterprise and consumer divisions, which saw respective revenue growth rates of 32% and 18%, Reuters reported.

Smartphone shipments last year saw Huawei slip into third place in the global handset chart behind Samsung and Apple, while the Shenzhen-based company's enterprise revenues have been pushed by increased business demand for cloud and mobile solutions.

In 2013, Huawei's net profit rose 34.4% to CNY21bn ($3.38bn), the company said in a statement. Operating profit was CNY29.1bn, which fell in the topmost portion of the company's forecast range of CNY28.6bn to CNY29.4bn.

"Thanks to the favourable 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 current chief executive, under a rotation system.

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