Tuesday, March 30, 2010

Huawei Reports 19% Sales Growth for 2009

Huawei Technologies Co. reported sales revenue of CNY 149.1 billion (approx. US$21.82 billion) worldwide for the fiscal year ended December 31, 2009, with a 19% rise year on year. Net profit was CNY 18.3 billion, with a net profit margin of 12.2%; it had CNY 21.7 billion net cash flow from operating activities. The company held CNY 29.2 billion (approx US$427 billion) in cash as of December 31, 2009.

Huawei is forecasting a 20% growth in sales revenue in 2010, driven by global broadband, particularly, mobile broadband.