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Huawei's 2012 net profits up 33%


08:58, January 23, 2013

BEIJING, Jan. 22 (Xinhua) -- Chinese telecoms equipment maker Huawei pocketed 15.4 billion yuan (2.44 billion U.S. dollars) in net profits in 2012, up 33 percent year on year.

It reported 220.2 billion yuan in sales revenue, up 8 percent year on year, said Cathy Meng, chief financial officer and daughter of company founder Ren Zhengfei, on Monday.

About 66 percent of its revenues came from overseas markets, Meng was quoted as saying in Tuesday's edition of the Beijing News.

She attributed the growth to a more focused strategy, simplified management and improved efficiency.

She also forecast that the company's overall revenues for 2013 will grow by 10 to 12 percent year on year.

Meng said Huawei is open to the possibility of becoming a listed company, adding that any move the company makes in the future will be in line with legal requirements and shareholders' interests.

The company has vowed to boost transparency regarding its performance.

ZTE, a smaller listed competitor, on Sunday forecast losses of 2.5 to 2.9 billion yuan for 2012.

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