Huawei records increased revenues in 2010 financial year

China’s Huawei Technologies, a telecom solutions provider, has released its 2010 financial results highlighted by sales revenues of US $ 28.02 billion, a 24.2 per cent growth over the previous year.

Huawei also reported an increased net profit of US $ 3.5 billion, up 30 per cent from 2009, and net profit margin of 12.3 per cent according to its financial results that were 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 long-term evolution (LTE) networks were commercially launched or ready to be launched. The firm 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, Huawei Technologies deputy chairman in a release, adding that as part of the firm’s future growth strategy, it has leveraged its 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 company’s current Board was elected in at the beginning of 2011.

Huawei provides services for the 45 of the world’s top 50 telecom operators and has deployed products and solutions in over 100 countries and support the communications needs of one third of the world’s population.

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