Net profit registered an increase of 30%
Chinese telecom equipment maker Huawei Technologies has reported sales revenues of CNY 185.2bn ($28.36bn) for the fiscal year 2011, a 24.2% growth over the previous fiscal.
Huawei also reported an increased net profit of CNY23.8bn, up 30% from 2009, and net profit margin of 12.3%.
Huawei in a statement said the company maintained steady growth 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.
Huawei Technologies deputy chairman Ken Hu said operators continue to choose Huawei for their unique ability to transform their needs into customised, innovative, and flexible solutions that create maximum value for their business.
"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 capitalise on opportunities provided by the industry’s digital transformation to support our global business in 2011," Hu said.
Huawei said moving forward, it will adopt a market-oriented corporate governance structure as part of its growth strategy to evolve into a provider of integrated, end-to-end ICT solutions and services and to better serve our customers.
In this new structure, each of Huawei’s main business units will be overseen by its own executive management teams that are in turn managed by the company’s CEO alongside an active Board of Directors.