Huawei Profits Ascend Despite OZ Snub

Written by Oonagh Reidy     25/07/2013 | 10:10 | Category: INDUSTRY

Controversial Chinese telecom enjoys "robust" first half with profits, revenues on the ascend.

Huawei Profits Ascend Despite OZ Snub


Networks giant Huawei announced 11% jump on global revenues for first six months (H1) of 2013 to US$18.5 billion. 

Huawei CFO Cathy Meng attributed the increase over H1 2012, to growth in consumer, carrier and enterprise divisions. 

The growth was "in line with our expectations," she said.

The company is aggressively looking to grow its smartphone business, recently unveiling the "world's slimmest" device, Ascend P6, although none of Australia's three major carriers including Telstra or Vodafone, will be selling it. 

Skinny mini: Ascend P6
Huawei Australia reported a huge 61% increase in revenues last year to $368 million, despite being banned from working on the NBN by the Federal government, due to spying fears and associations with the Chinese government. 

Huawei said it expects global net profit to hit 7-8% in 2013, based on "robust growth" and other positive indicators, in a statement yesterday. 

"Our success in H1 2013 was mainly driven by the steady growth of the Carrier Network business, the expansion of the Enterprise business, and the fast growth of the Consumer business, as well as the continuous enhancement of our overall operational efficiency," said Meng.  

"From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10%." 

Huawei said it will continue to focus on pipe strategy, increase investment in growth areas, and boost efficiency through operational and management reviews. 

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