Huawei Profits Climb 33%

  • Huawei Technologies, China‘s largest telecom equipment manufacturer confirmed that its profits grew 33% over last year. The CFO, Cathy Meng, said that the company would see an approximate net profit of about 15.4 billion yuan or $2.4 billion on a revenue of about $35.4 billion. Last year, the Shenzhen-based company had announced a fall in profits by 53% to 11.6 billion yuan. Following the announcement, Huawei also indicated that it may be ready to go to the markets with a public offering. The decision shall be made in consideration with shareholders’ interests, said the Chinese technology giant.