Huawei has made a 40 percent rise in annual operating profit despite being blacklisted in the US over pot calling kettle black claims of cyber spying
Apparently, the record growth is thanks to the Chinese telecom equipment maker growing in emerging markets.
Huawei had a tough year – the United States and Australia refusing to let the Chinese outfit take government contracts.
To counteract this, the unlisted company has placed its hopes in developing markets and its business in Europe, where it has made headway building fourth-generation mobile networks.
Huawei has denied any spying links with the Chinese government, reported an unaudited 2013 operating profit of $4.87 billion which is an increase of 43.3 percent.
Revenue reached $39.36 billion, or an increase of 8 percent compared with a target of 10 percent, the company said.
Huawei, which ranks behind Sweden’s Ericsson in telecom gear sales, will release audited financial results for last year in the second quarter of this year.
The company’s flagship carrier business, which accounted for almost three quarters of revenue in 2012, sells equipment to telecom operators.
Huawei said smartphone shipments reached 52 million units worldwide last year compared with the company’s 60 million unit target.
Huawei was the third-largest smartphone maker globally in the third quarter of 2013, according to Strategy Analytics, with a 5.1 percent market share. However, the company is dwarfed by Samsung and Apple, which have a 35.2 percent and 13.4 percent share respectively.
The company’s third area of operations – its enterprise segment – builds and sells communications equipment to businesses and institutions.