Huawei posts strong revenue growth in 2009

Huawei said it scored $21.5 billion in revenue in 2009, indicating strong performance amid the economic recession, but down sharply from the firm's 2008 growth. Further, the Chinese company expects growth in contract sales--the value of signed contracts--to be stable in 2010 compared with 2009.

The results are unaudited, and Huawei warned that its audited results--due in April--could be different. Nonetheless, Huawei's $21.5 billion represents a 17.5 percent increase in revenue over 2008, though it's down from the 43 percent revenue growth Huawei reported in 2008. In light of the financial troubles of its rivals, notably Nokia Siemens Networks and Alcatel-Lucent, the growth is remarkably strong.

Huawei said it expects contract sales in 2010 to rise 20 percent to $36 billion, similar to the 20 percent growth it experienced in 2009.

The company, the world's second largest infrastructure vendor, plans to increase its presence in North America this year by adding 600 jobs to the market. Huawei has already won a  contract in North America with Cox Communications for the company's 3G CDMA network, and also is a supplier for Clearwire's WiMAX network.

For more:
- see this Reuters article
- see this Light Reading article

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