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Huawei 2010 Net Profit Up 30%

Huawei PR, 4/18/11

Chinese telecom equipment and terminal manufacturer Huawei today released its audited financial results for the full year 2010, with revenues up 24.2% YoY to RMB 185.18 bln. International accounting firm KPMG independently audited the financial results.

Huawei also reported net profit of RMB 23.76 bln, up 30.0% from 2009.

Revenues for the past five years were as follows:

Year Revenue (RMB/blns)
2006 66.37
2007 93.79
2008 125.22
2009 149.06
2010 185.18

Net profit for the past five years were as follows:

Year Profit (RMB/blns)
2006 3.99
2007 7.56
2008 7.85
2009 18.27
2010 23.76

Revenue from Huawei's Telecom Networks division for 2010 were RMB 122.92 bln, an increase of 23.0% year-on-year. As of 2010, Huawei had deployed over 80 SingleRAN networks for operators, among which 28 LTE/EPC networks were commercially launched or ready to be launched. Huawei's radio access business expanded steadily to reach a global market share of 20%.

Revenue from the Global Services division, which includes System Integration Services, Assurance Services (including Managed Services) and Learning Services, reached RMB 31.51 bln, a year-on-year increase of 28.6%.

Revenue from Huawei Device reached RMB 30.75 bln, an increase of 24.9% year-on-year. In the high-value markets of the USA and Japan, growth was especially significant, exceeding 100% YoY. In 2010, Huawei's Device business had shipped 120 mln units worldwide, including over 3 mln smartphones. Other types of devices include other handsets, mobile broadband devices, convergence devices, and video solutions.

Revenue from the China market was RMB 64.77 bln, an increase of 9.7% year-on-year. Revenue from overseas markets reached RMB 120.41 bln, up 33.8% from the previous year.

The company also launched its enterprise business in 2010 and intends to dedicate extensive resources to further develop this offering, which provides network infrastructure, fixed and wireless communication, data center, and cloud computing solutions for global industry and enterprise customers.

Moving forward, Huawei will adopt a market-oriented corporate governance structure as part of its growth strategy. In this new structure, each of Huawei's main business units will be overseen by its own executive management teams that are in turn managed by the company's CEO alongside an active board of directors,

To see Huawei's full report, please click here.

Keywords: mobile network equipment 2009 2010 2006 2007 2008 convergence overseas profit revenue strategy telecom wireless Huawei telecom equipment market share LTE system integration Huawei Device handset 4G smartphone fiscal report


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