Huawei profits up 30% in 2010
Company sees strong growth outside of China, announces plans for corporate structure
Huawei has reported strong results for FY10, with sales revenues up 24.2% over the previous year, to CNY 185.2 billion, ($28.5bn), and profits up 30% to CNY 23.8 billion ($3.7bn).
The company attributed the growth to expansion in markets outside of China, and to steady growth in its three main business units, Telecom Networks, Global Services, and Devices.
Huawei also launched its enterprise business in 2010, to offer provides network infrastructure, fixed and wireless communication, data centre, and cloud computing solutions to the enterprise sector.
The company announced plans to restructure, to adopt a more market-oriented corporate governance approach. Each of Huawei's main business units will now be overseen by an executive management team, which will report to the company's CEO and a board of directors.
"Operators continue to choose Huawei for our unique ability to transform their needs into customized, innovative, and flexible solutions that create maximum value for their business," said Ken Hu, deputy chairman of Huawei Technologies. "As part of Huawei's future growth strategy, we leveraged our deep experience in the telecoms industry to expand into new areas, including the enterprise and device businesses, and will continue to capitalize on opportunities provided by the industry's digital transformation to support our global business in 2011."