Huawei sales grow 8% to $35 billion

Chinese telecommunications equipment and services provider Huawei saw revenue rise 8% to 220.2 billion yuan ($35 billion) in 2012, according to unaudited results published today.

This is a slight dip from the 11% growth the company saw in 2011.

The majority of Huawei’s 2012 revenue ("about 70%") came from telecommunications providers, it said. Europe, the Middle East and Africa was its largest market during the year, accounting for 35% of sales.

Net income, meanwhile, grew 33% to 15.4 billion yuan ($2 billion). In 2011, net profit had dropped by 53% to 11.7 billion yuan ($1.8 billion)

Huawei sells the full range of telecommunications equipment, from mobile infrastructure to smartphones.

In November, figures by research firm Gartner showed Huawei had the fifth-largest share of the global smartphone market with 2.8%. However, CFO Cathy Meng said at a results presentation that this share is "still way too low and there is a lot of room for growth".

The US contributed just 14% of Huawei sales in 2012, reflecting security concerns about the company. In October, a report by a US security committee called for Huawei and ZTE to be barred from any mergers and acquisitions in the US.

Avatar photo

Ben Rossi

Ben was Vitesse Media's editorial director, leading content creation and editorial strategy across all Vitesse products, including its market-leading B2B and consumer magazines, websites, research and...

Related Topics