360° Coverage : Huawei's 2012 net profits rise

Huawei's 2012 net profits rise

Beijing, Jan 22 (IANS) Chinese telecom equipment maker Huawei pocketed 15.4 billion yuan ($2.44 billion) in net profits in 2012, up 33 percent year-on-year.

Jan 22 2013, 1:40am CST | by

Huawei's 2012 net profits rise
Photo Credit: YOSHIKAZU TSUNO, Getty Images

Beijing, Jan 22 — Chinese telecom equipment maker Huawei pocketed 15.4 billion yuan ($2.44 billion) in net profits in 2012, up 33 percent year-on-year.

It reported 220.2 billion yuan in sales revenue, up 8 percent year-on-year, said Cathy Meng, chief financial officer and daughter of company founder Ren Zhengfei, Monday.

About 66 percent of its revenues came from overseas markets, Meng was quoted as saying in Tuesday's edition of the Beijing News.

She attributed the growth to a more focused strategy, simplified management and improved efficiency, reported Xinhua.

She also forecast that the company's overall revenues for 2013 will grow by 10 to 12 percent year on year.

Meng said Huawei is open to the possibility of becoming a listed company, adding that any move the company makes in the future will be in line with legal requirements and shareholders' interests.

The company has vowed to boost transparency regarding its performance.

IANS

Source: IANS

 
 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

18 Amazon Dash Buttons Released
18 Amazon Dash Buttons Released
The unique Amazon Dash Buttons are on sale now for Prime Members.
 
 
Yahoo Releases Livetext Video Texting App
Yahoo Releases Livetext Video Texting App
The app shares videos, pictures and texts with friends without sound and can rival Whatsapp and Snapchat.
 
 
United Airlines Also Hacked by OPM Hackers
United Airlines Also Hacked by OPM Hackers
The hackers previously breached the U.S. Office of Personnel Management and collected massive data.
 
 
Windows 10 Ads Excessively Show Babies
Windows 10 Ads Excessively Show Babies
Microsoft released a series of Windows 10 commercials with lots of babies.