Huawei reports FY10 revenues of CNY185.2 Billion

Huawei Technologies Co. Ltd has reported growth in revenue for the fiscal year 2010. It has increased sales revenues of CNY 185.2 billion, a 24.2% growth over the previous year. There is a increase in its net profit of CNY 23.8 billion in 2010. The net profit is up by 30.0 per cent from 2009 and net profit margin of 12.3%.

The financial results were audited by KPMG. The report shows a consistent growth of Huawei in 2010 on the back of notable expansion in overseas markets as well as continued development in its three core business divisions — Telecom Networks, Global Services, and Devices. By the end of 2010, Huawei had deployed over 80 SingleRAN networks for operators, among which 28 LTE networks were commercially launched or ready to be launched. Huawei also shipped 120 million devices around the world. The company has committed to work toward transparency and standardization.

Ken Hu, Deputy Chairman of Huawei Technologies said, “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”. He added, “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.”