Huawei profits on global business

Huawei confirmed its position as one of the world’s leading telecoms equipment makers with a 30% increase in profits during 2010.
 
The firm attributes the rise in net profit to 23.8 billion Yuan (€2.5 billion) to global expansion, with demand for single RAN and LTE networks fuelling a 24.2% increase in revenues to 185.2 billion Yuan during the year. Mobile devices – a new business area - also contributed to the sales increase, with 120 million units shipped by end December.
 
Deputy chairman Ken Hu said the figures bear testament to the firm’s focus on core markets including telecom networks and global services, which it leveraged to break new ground “including the enterprise and device businesses.” He pledged the firm “will continue to capitalize on opportunities provided by the industry’s digital transformation.”
 
The firm’s enterprise business, which launched in 2010, will remain a key focus through 2011, and the vendor will restructure its management to offer a more market-facing focus, with top brass at individual business units reporting directly to the chief executive.
 
Huawei also revealed the make-up of its board for the first time, as it seeks to address concerns about close links to China’s military that have hampered efforts to expand into markets including the US and Europe.
 
The vendor last week moved to gain favor in those markets, dropping a US lawsuit blocking the sale of Motorola Solutions to NSN, and establishing the UK as a hub for European operations including centers of excellence covering financial and consulting services.