Huawei Technologies Co., China’s biggest maker of phone network equipment, posted record sales and earnings on demand from wireless carriers for gear.
Revenue rose 8.5 percent to 239 billion yuan ($38 billion) in 2013, the Shenzhen, China-based company said in a statement today. Net income for the year was 21 billion yuan, it said, or 36 percent more than it reported the previous year.
Huawei is broadening its product lineup with smartphones, tablets and business-computing products and services as it fights cybersecurity concerns that have restricted access for its network equipment in the U.S. and Australia. The closely held company got 65 percent of revenue from outside China as it targets more sales to larger customers.
“Thanks to the favorable global macroeconomic and industry environment, as well as the effective execution of our company strategy, Huawei basically achieved our business targets for 2013,” Eric Xu, Huawei’s deputy chairman and rotating chief executive officer, said in the statement.
Sales at Huawei’s carrier network unit rose 4 percent to 166.5 billion yuan, while the consumer business boosted sales 18 percent to 57 billion yuan. The enterprise division increased revenue 32 percent to 15.2 billion yuan, according to the statement.
The company’s worldwide smartphone sales last year trailed only Samsung Electronics Co. (005930) and Apple Inc. (AAPL) as Huawei boosted its share of the global market to 4.9 percent from 4 percent the previous year, researcher International Data Corp. reported in January.
Source: Bloomberg
