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Monday, August 15, 2011

Huawei half-year results show sales are up

Chinese IT and telecoms company Huawei has released its financial results for the first half of 2011. Sales revenue was up 11% year-on-year to CNY 98.3 billion (around £9.4 million), while operating profit was reported as CNY 12.4 billion.

Cathy Meng, Chief Financial Officer at Huawei, said “Huawei's performance in the first half of 2011 was in line with our expectations, while growth was stable and robust. Although the global economy continues to face uncertainty, we remain confident in achieving our annual sales target of CNY 199 billion with our Device and Enterprise businesses as new growth drivers.”

Device shipments were up 40% year-on-year to 72 million units, while the mobile handset business grew by over 100%. The company says it’s currently moving beyond its focus on providing telecom solutions for the operator segment by transforming itself into an integrated ICT solutions vendor.

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Author: The Fonecast
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Tags: huawei

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