China’s Huawei Technologies Ltd, the world’s No.2 telecommunications equipment maker, reported its fastest profit growth in four years as expansion in enterprise and consumer revenue far exceeded growth in its network building division.
The unlisted company has benefited from companies investing heavily in cloud and mobile computing, while it has shipped so many mobile handsets that it became the world’s third-biggest smartphone manufacturer last year.
Shenzhen-based Huawei is now looking for revenue from Chinese mobile phone operators switching to fourth-generation networks to cushion the impact of a slowdown in network spending abroad.
In 2013, net profit rose 34.4 percent to 21 billion yuan ($3.38 billion), the company said in a statement on Monday.
Operating profit was 29.1 billion yuan, compared with the company’s forecast range of 28.6 billion yuan to 29.4 billion yuan.
via China’s Huawei books quickest profit growth in four years on smartphone demand | Reuters.
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