Huawei Reports FY10 Revenues of CNY185.2 Billion, Up 24.2%; Net Profit of CNY23.8 Billion, Up 30.0%
A key focus on the expansion of enterprise and device businesses
Huawei Technologies Co. Ltd. (“Huawei”), a world-leading telecom solutions provider, today released its audited full-year 2010 financial results highlighted by sales revenues of CNY 185.2 billion, a 24.2% growth over the previous year. Huawei also reported an increased net profit of CNY 23.8 billion, up 30.0% from 2009, and net profit margin of 12.3%. The financial results were independently audited by international accounting firm KPMG.
Huawei 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. By the end of 2010, Huawei had deployed over 80 SingleRAN networks for operators, among which 28 LTE networks were commercially launched or ready to be launched. Huawei also shipped 120 million devices around the world.
“Operators continue to choose Huawei for our unique ability to transform their needs into customized, innovative, and flexible solutions that create maximum value for their business,” said Ken Hu, Deputy Chairman of Huawei Technologies. “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 capitalize on opportunities provided by the industry’s digital transformation to support our global business in 2011.”
The company also launched its enterprise business in 2010 and intends to dedicate extensive resources to further develop this offering, which provides network infrastructure, fixed and wireless communication, data center, and cloud computing solutions for global industry and enterprise customers.
Moving forward, Huawei 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 that provide direction and ensure synergies across the lines of business. The current Board was elected in at the beginning of 2011 and their biographies are included in Huawei’s 2010 annual report.
Huawei’s audited full-year results are outlined in the company’s 2010 annual report, which was published today and can be found at http://www.huawei.com/ar2010″>http://www.huawei.com/ar2010
6.6070 RMB=1 USD (as of December 31, 2010; see page 71 of annual report)