China’s largest vendor of telecom equipment confirmed on Wednesday that its earnings rebounded to grow 33% last year. Huawei Technologies Co Ltd posted an over 40 percent rise in annual operating profit as the Chinese telecom equipment maker expanded its presence in emerging markets, countering reduced revenue growth hit by accusations of cyber-espionage and alleged links to Chinese government, especially from US and Australia. But Huawei has always contradict these reports and defend himself.
Huawei has reported an audited profit of 28.6 billion Yuan to 29.4 billion Yuan on Wednesday. This means an increase of 43.3 % from last year profit. Revenue reached 238 billion to 240 billion yuan. Huawei will release audited results in March or April, including net profit which should not be largely different from operating profit, the company said.
Huawei founded in 1987, is the second biggest company in telecom equipment, was founded in 1987. All rivals like Cisco, Alcatel-Lucent, ZTE etc has been outclassed by Huawei. In US, it has not reached to its maximum height, as Apple and Samsung gave it very healthy competition. But it is still pushing hard on sales especially its smartphone sector.
Company has also posted that they couldn’t reach smartphone shipments last year as per target. It has targeted 60 Million smartphones, but only shipped 52 Million worldwide. Sales are also strong in Europe, according to the company, where the European Commission is poised to launch an investigation into anti-competitive behavior by Chinese producers of telecoms equipment.