China’s Huawei says unaudited 2012 profit climbs 33 pct

Huawei Technologies, the world’s No.2 telecom equipment maker and the sixth largest mobile phone vendor, posted a 33 per cent rise in net profit last year, reversing a fall in 2011 thanks to new telecom projects and smartphone sales.

Privately held Huawei, which ranks behind Sweden’s Ericsson in telecom equipment sales, reported an audited net profit of 15.4 billion yuan (US$2.5 billion), up from 11.6 billion yuan in 2011, Chief Financial Officer Cathy Meng said.

Revenue for the year rose 8 per cent to 220.2 billion yuan.

via Business feed http://www.scmp.com/business/companies/article/1132892/chinas-huawei-says-unaudited-2012-profit-climbs-33-pct