Huawei says profits increased by 33 percent in 2012, despite US security concerns

Huawei says profits increased by 33 percent in 2012, despite US security concerns

Huawei today announced details about its 2012 financial performance, amid lingering security concerns over the company’s alleged ties to the Chinese government. At a press conference held Monday, Chief Financial Officer Cathy Meng said Huawei’s net profits rose by 33 percent last year, reaching 15.4 billion yuan ($2.5 billion). This marks a notable turnaround from 2011, when the phone manufacturer saw profits of 11.6 billion yuan ($1.9 billion). Huawei, which played a prominent role at this year’s CES, said its 2012 revenue rose by 8 percent on the year to 220.2 billion yuan ($35.4 billion), and expects sales to rise by as much as 12 percent in 2013.

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Huawei says profits increased by 33 percent in 2012, despite US security concerns

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